Haldiram’s Attracts Major Investors with Plans to Expand Globally

Saksham Mishra

01 Apr 2025 — 3 min read

Alpha Wave Global and the International Holdings Co. (IHC) invest in Haldiram’s

Haldiram's, one of India's leading snack and packaged food manufacturers, has secured investments from Alpha Wave Global and the International Holdings Co. (IHC).

These international investments seem to signal Haldiram's ambition to expand its footprint internationally. The investors are Alpha Wave Global, based in the United States, and the International Holdings Co. (IHC), from the UAE. This comes just days after Temasek, a global investment firm, acquired a minority stake in the company. The backing from all these high-profile investors definitely seems to indicate that Haldiram's is preparing to go into overdrive for a rapid global expansion, with its major targets appearing to be the US and Middle Eastern markets.

The Investment Deal and Company Valuation

Even though Alpha Wave Global has not revealed how large an investment it has made, market experts are now estimating that the sum could be around ₹5,100 crore. If that is indeed the amount invested, it would mark the first time that Haldiram's sweet and savory snacks have been valued at the $10 billion (around ₹86,000 crore) level, which is a significant jump from the previous estimates.

Alpha Wave Global and IHC are investing in Haldiram’s, and the two firms expect to add quite a bit of strategic value on top of their financial backing. Both companies have a deep well of experience to tap here, and they have plenty of networks to help Haldiram’s as it tries to grow its global business. The bet here is that Haldiram's can become a much larger player, not just in India but in markets across the world.

The Role of Temasek in Haldiram’s Growth

Along with Alpha Wave Global and IHC, Singapore-based investment firm Temasek has entered the scene. Temasek is buying a 10% stake in Haldiram's through its subsidiary Jongsong Investments Pte. Details of Temasek's deal haven't been made public, but its interest in Haldiram's is clearly substantial. Temasek, which as of March 2024 had a net portfolio with $288 billion, has been increasingly looking toward India's consumer and food industries. This investment is a further sign of that trend.

The agreement with Temasek is contingent upon receiving the requisite regulatory approvals. Of major importance will be an expected clearance from the Competition Commission of India (CCI). Despite its pending status, this arrangement clearly paints Haldiram's as a prime candidate for the kind of strategic partnerships that will allow the company to make big, bold moves throughout both the domestic and international markets.

Haldiram’s Plans for Global Expansion

Founded in 1937, Haldiram's has long been a household name throughout India. The company commands a sweeping range of snacks, sweets, and ready-to-eat meals that have amassed the company a sizable international presence. Its products can already be found across several countries, and with this latest investment, Haldiram's is expected to employ its new investors' worldwide experience to quicken its growth, especially in the lucrative U.S. and Middle Eastern markets.