SpaceX Investor Acquires 6% Stake In Halidram's

India's top snack manufacturer Haldiram's has confirmed that following an acquisition of 9 per cent stake by Singapore investment entity Temasek, SpaceX investor Alpha Wave and Abu-Dhabi based International Holding Company (IHC) have also been sold a stake in the iconic home-grown brand.

"Haldiram's, 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," according to an official statement. 

Reportedly, Alpha Wave has acquired 6 per cent stake in the traditional food manufacturer's firm in a Rs 5,600 crore deal. 

Haldiram's Stake Sale After Temasek USD $8,500 Crore Deal

The combined deals have valued Haldiram's at Rs 84,000 crore, solidifying its position as one of the most formidable FMCG brands. Promoters, comprising the Agrawal family branches from Nagpur and Delhi, have collectively gained over Rs 13,000 crore from these transactions.

Under UAE's National Security Advisor Tahnoun Bin Zayed, the UAE-based firm Alpha Wave has established an investment portfolio that includes Elon Musk led SpaceX. The global investment firm's involvement in Haldiram's is an indicator of how the interest of global investors in India's consumer market, including traditional FMCG players, is on the rise. 

The stake sales come post the merger of Haldiram's Snacks Private Limited (Delhi) and Haldiram's Food Private Limited (Nagpur) into a single entity. This consolidation has further streamlined the path to the possibility of an IPO within a year.