Haldiram Sells Stake to IHC & Alpha Wave Global - $10 Billion Valuation

New Delhi, Mar 31 (PTI) Haldiram Snacks Food, the country's leading snack and food brand, on Monday confirmed selling its stake to two new investors -- IHC (International Holding Company) and Alpha Wave Global -- according to a release.

However, the statement did not disclose the details of the deal.

The announcement comes a day after Haldiram confirmed acquisition of a minority stake by Singapore-based global investment firm Temasek. The details of this deal were also not disclosed.

"Haldirams, India's leading snack and food brand, is pleased to announce the addition of two new investors, IHC (International Holding Company) and Alpha Wave Global, to its ongoing equity round, following Temasek's recent participation," the statement said.

This strategic move further strengthens Haldirams financial position as it accelerates its global expansion plans, particularly in the US and the Middle East.

"The investment reflects Alpha Wave Global's and IHC's commitment to backing dominant companies with strong consumer brands," it said.

According to industry sources, IHC and Alpha Wave are collectively acquiring a minority stake of about 6 per cent stake in Haldiram Snacks Food at a valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packaged food industry.

Alpha Wave is a global investment company that focuses on three main verticals -- private equity, private credit, and public markets -- while UAE-based IHC is one of the world's largest investment companies.