SpaceX backer to acquire 6% stake in Haldiram's for $620M
SpaceX backer to acquire 6% stake in Haldiram's for $620M
Alpha Wave Global, backed by UAE's Sheikh Tahnoon bin Zayed's business empire, is set to buy a 6% stake in Haldiram Snacks Food for ₹5,160 crore (roughly $620 million).
This deal would make Alpha Wave Global the second major investor in India's top snack and convenience foods company, following Temasek's acquisition of 9% stake at ₹86,000 crore valuation this month.
The total promoter dilution from these deals amounts to estimated 15%, making it India's largest private equity consumer deal yet.
There are also additional reports that Haldiram Snacks Food (Haldirams), the Indian multinational snacks and sweets company, has entered into an agreement with Singapore-headquartered global investment firm Temasek to sell an equity stake held by existing shareholders, PwC said in a press release.
