Haldiram IPO News / Haldiram will not be sold, the common man of the country will become the owner!

Vikrant Shekhawat : Jun 12, 2024, 10:57 PM
Haldiram IPO News: Be it going to sister's house on Rakshabandhan or sending sweets to relatives on Diwali, if there is one brand that is recognized in every household in India, it is 'Haldiram'. For a long time, speculations about Haldiram's sale have been spreading in the market. Sometimes the news comes that Tata Group wants to buy it, and sometimes the world's largest private equity fund 'Black Stone' shows interest in it. Now these news seem to be coming to an end.

Yes, the latest news is that 'Haldiram' has not received the valuation that it is expecting for itself from either Tata Group or Blackstone Consortium. There were reports of the latest talks going on with the consortium of Blackstone and other companies, about which it is being said that these talks have also gone sour now. Instead, 'Haldiram' is now considering bringing its own IPO.

'Haldiram' may get an IPO

'Haldiram' brand is currently handled by three different companies. But overall, the business of 'Haldiram' is owned by the Agarwal family. One of its three parts is in Kolkata, which is not already a part of any sale deal. Haldiram Snacks Private Limited in Delhi and Haldiram Foods International Private Limited in Nagpur own the brand, which were about to merge during talks with the Blackstone Consortium. On this basis, the valuation of the company was put at $ 8 billion.

The Delhi business of 'Haldiram' is owned by Manohar Agarwal and Madhusudan Agarwal. While the Nagpur business is owned by Kamalkumar Shivkishan Agarwal. After the merger, the name of the new company was going to be Haldiram Snacks Food Private Limited. But now the news is that only the owners of Delhi's Haldiram Snacks Private Limited are going to bring its IPO. Haldiram's restaurant business alone is worth Rs 1800 crore.

Wants $12 billion valuation

Citing sources familiar with the matter, ET has said in a report that when Haldiram was negotiating with Tata Group, it had calculated a valuation of $10 billion. Then during talks with Blackstone Consortium, Haldiram wanted a valuation of $12 billion, but it got a valuation of only $8 billion.

Sources say that now Haldiram has decided that it will get itself listed in the stock market at a valuation of $8 to $8.5 billion. However, nothing has been said officially about this yet. Haldiram was started in the 1930s by Ganga Bishan Agarwal in Bikaner.