Alpha Wave Global the Investment Company Can Now Buy Stake in Haldiram
Monday, 31 March 2025, 11:28 IST
Exciting news is emerging regarding Haldiram, India's largest snack brand. Reports indicate that Alpha Wave Global, an investment firm known for backing Elon Musk's SpaceX , is poised to acquire a 6% stake in Haldiram Snacks Food. This follows Singapore's investment company Temasek, which previously purchased a 9% stake in the brand.
If the deal goes through, Alpha Wave Global is expected to invest Rs 5,160 crore in Haldiram. Following this transaction, the Agarwal family's ownership in Haldiram will decrease to 85%. However, neither Haldiram nor Alpha Wave Global has officially confirmed the details of this investment yet.
Alpha Wave Global, formerly known as Falcon Edge Capital, has ties to Sheikh Tahnoon bin Zayed, the National Security Advisor of the UAE, whose business interests are extensive. The firm has also invested in prominent global companies such as SpaceX, Lyft, and Klarna. In India, Alpha Wave has backed several startups, including VLCC, Lenskart, Chaios, and Dream11. Notably, despite the investment in Haldiram, Alpha Wave will not secure a position on the company's board, while Temasek may be granted a board seat.
The Indian snacks market was valued at Rs 42,694 crore in 2023, with Haldiram leading the sector. The company offers over 500 varieties of snacks, sweets, ready-to-eat meals, and beverages. For the financial year 2023-24, Haldiram reported total revenue of Rs 12,800 crore, with an EBITDA of Rs 2,580 crore and a net profit of Rs 1,400 crore.
If the deal goes through, Alpha Wave Global is expected to invest Rs 5,160 crore in Haldiram. Following this transaction, the Agarwal family's ownership in Haldiram will decrease to 85%. However, neither Haldiram nor Alpha Wave Global has officially confirmed the details of this investment yet.
Alpha Wave Global, formerly known as Falcon Edge Capital, has ties to Sheikh Tahnoon bin Zayed, the National Security Advisor of the UAE, whose business interests are extensive. The firm has also invested in prominent global companies such as SpaceX, Lyft, and Klarna. In India, Alpha Wave has backed several startups, including VLCC, Lenskart, Chaios, and Dream11. Notably, despite the investment in Haldiram, Alpha Wave will not secure a position on the company's board, while Temasek may be granted a board seat.
The Indian snacks market was valued at Rs 42,694 crore in 2023, with Haldiram leading the sector. The company offers over 500 varieties of snacks, sweets, ready-to-eat meals, and beverages. For the financial year 2023-24, Haldiram reported total revenue of Rs 12,800 crore, with an EBITDA of Rs 2,580 crore and a net profit of Rs 1,400 crore.
