Haldiram Gets New Investors: CCI Clears Alpha Wave And IHC Deal—What It Means

The Competition Commission of India (CCI) has approved the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP.

The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the Target by the Acquirers, as per India's Chief national competition regulator.

While Alpha Wave Global did not announce the deal size in March, market estimates are that it could be around Rs 5,100 crore, valuing Haldiram's at USD 10 billion or Rs 86,000 crore.

The acquirers are private equity funds, it said.

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The target including its affiliates is engaged in the manufacture and sale of packaged food products in India, such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates, and non-carbonated ready-to-drink beverages.