Alpha Wave Global can now buy stake in Haldiram!
A big news is coming out related to India's largest snack brand Haldiram. According to reports, Alpha Wave Global, the investment company that invested in Elon Musk's SpaceX, can now buy 6 percent stake in Haldiram Snacks Food. Earlier, Singapore's investment company Temasek bought 9 percent stake in Haldiram.
Investment will be Rs 5,160 crore
According to the Economic Times report, if this deal happens, then Alpha Wave Global will invest Rs 5,160 crore in Haldiram. After this deal, the stake of Haldiram's owner Agarwal family will be 85 percent. However, neither Haldiram nor Alpha Wave Global has officially confirmed this yet.
Alpha Wave has already invested in indian companies
Alpha Wave Global was earlier known as Falcon Edge Capital. This company is associated with UAE's National Security Advisor Sheikh Tahnoon bin Zayed, whose business empire is worth millions of crores of rupees. Alpha Wave has also invested in big companies of the world like SpaceX, Lyft and Klarna. In india too, the company has invested in many startups like VLCC, Lenskart, Chaios and Dream11. However, despite investing in Haldiram, Alpha Wave will not get a place on the board of the company. On the other hand, Temasek may get a board seat in the company.
Status of snacks market in India
India's snacks market was worth Rs 42,694 crore in 2023 and Haldiram is the largest brand in this sector. The company sells more than 500 types of snacks, sweets, ready-to-eat food and drinks. Haldiram's total revenue in the financial year 2023-24 was Rs 12,800 crore. Out of this, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was Rs 2,580 crore and net profit was Rs 1,400 crore.
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