One of the most talked about companies in the country, Haldiram Snacks Food Pvt Ltd, is being eyed by world leading companies to buy ownership rights. According to a report in the Economic Times, the world’s largest private equity fund Blackstone, Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC last week sent a proposal to buy a controlling stake in Haldiram Snacks Food Pvt Ltd. The report claims that Snacks Food Pvt Ltd is valued at $8 billion to $8.5 billion (Rs 66,400 crore to Rs 70,500 crore). Let us tell you that there is talk of buying stake in Haldiram’s Delhi and Nagpur business.
The company is paying 1000% dividend on 1 share, ex-dividend date today
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This company is also in the race
Apart from Blackstone and its partners, Bain Capital is also eyeing Haldiram Snacks Food Pvt Ltd, Mint reported. Bain Capital has also talked to Haldiram Snacks Food Private Limited several times about this. But the matter is not resolved yet.
According to the report, Blackstone and its partners together want to buy 74 percent to 76 percent stake in Haldiram Snacks Food Pvt. But the stake of Blackstone’s partners Abu Dhabi Investment Authority and GIC will not be very high. Let us tell you that if this deal is successful, it will be the largest stake purchase of Blackstone in India.
No official announcement has been made yet regarding the stake purchase in 87-year-old Snacks Food Pvt. At the same time, Snacks Food Pvt Ltd has also not released any statement on the whole matter.
The success of the entire deal will also depend on the successful merger of Haldiram’s Nagpur and Delhi businesses. The merger was approved by the CCI in April. Let us tell you how excited Blackstone is about this deal can be gauged from the fact that the fund company has also discussed it with its peers in Canada and Asia.
How will the situation be after the merger?
The Haldiram family is currently divided into 3 parts. Currently, the merger of Nagpur business (Haldiram Foods International Pvt Ltd) and Delhi business (Haldiram Snacks Pvt Ltd) is going on. After the merger of the two companies, a new company will come into existence by the name of Haldiram Snacks Foods Private Limited. After this merger, Delhi’s Manohar Agarwal and Madhu Sudan Agarwal will have 55 percent stake in the company. While Nagpur’s Kamalkishan Aggarwal will have 45 percent stake. Let us tell you that the company that gave business to Haldiram in the North-East is far away from this merger.