Haldiram’s, an Indian snack maker, is currently exploring the possibility of raising capital through an initial public offering (IPO).
According to a report by Bloomberg, the owners of Haldiram Snacks Pvt Ltd. are considering pursuing an initial public offering (IPO) because their efforts to sell the company to foreign investors did not succeed as anticipated.
The Agarwal family is thinking about making their company available for anyone to buy shares because the offers they got were not as much as they hoped for—around $8 billion to $8.5 billion instead of the $12 billion they wanted, according to people who didn’t want their names known.
In May, several major organizations, including Blackstone Inc., Abu Dhabi Investment Authority, and GIC Pte, expressed interest in acquiring Haldiram’s. Additionally, news reports indicated that another consortium, led by Bain & Co. and Temasek Holdings Pte, also showed interest in purchasing the company.
Sources suggest early IPO plans with potential price reductions by main owners. India’s IPO activity surged, raising $3.9 billion this year, double last year’s, surpassing Hong Kong and Korea combined, per Bloomberg.
Haldiram’s, founded in the 1930s in northern India by Ganga Bishan Agarwal, offers diverse food items including snacks and meals. Additionally, the company operates 43 restaurants in and around Delhi, as indicated on its official website.
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