E-Paper
Haldiram’s could launch IPO as sale talks stall: Plans at ‘preliminary’ stage
Haldiram IPO: The IPO is being considered by Agarwal family “as bids in the region of $8 billion to $8.5 billion didn’t meet its valuation expectations."
Owners of Haldiram Snacks Pvt Ltd- the Agarwal family- are exploring a possible initial public offering (IPO) for the food producer and restaurant operator. This comes as plans to sell the snacks maker to foreign investors stalled, Bloomberg reported citing people in the know.
Read more: Dearness Allowance hiked for bank employees as inflation rises, five-day workweek pending approval
The IPO is being considered by the Agarwal family “as bids in the region of $8 billion to $8.5 billion didn’t meet its valuation expectations of about $12 billion”, the report added. Earlier, it was reported that Haldiram’s received bids in May from a Blackstone Inc.-led consortium featuring Abu Dhabi Investment Authority and GIC Pte. It also got bids from another group led by Bain & Co. and Temasek Holdings Pte, reports claimed.
Read more: Chandrababu Naidu persuaded Bill Gates for Microsoft's Hyderabad office in just 40 minutes
The report said that IPO considerations are preliminary and controlling shareholders may still decide to lower their asking price and proceed with a sale.
Read more: How Chandrababu Naidu's grandson Devansh became ₹1.7 crore richer at age 9
Haldiram's was founded by Ganga Bishan Agarwal in the 1930s and sells a range of foods from sweet and savory snacks to frozen meals and breads. The company also runs 43 restaurants, as per its website.
