THIS company has acquired 10 per cent stake in Haldiram's for Rs 8718 crore, not Mukesh Ambani's Reliance, Tata

Known for his bhujia, Haldiram's has come a long way since its beginning in 1937. It is considered India's largest snacks brand, which has several stores across the country and the world. Now, Temasek, Singapore's state investment company, has signed a deal to pick up close to a 10 per cent stake in the snacks business of Haldiram's. The cost of the deal is about USD 1 billion, Reuters reported, quoting two people with direct knowledge of the matter. Temasek's purchase price translates into a roughly USD 10 billion valuation for the company. It is estimated by Euromonitor International to hold a near 13 per cent share of India's USD 6.2 billion savoury snacks market. 

The Singapore firm, Temasek, has already expanded its India footprint with investments in Manipal Hospitals and KFC and Pizza Hut operator Devyani International. It is now betting on the country's snacks market with the stake in Haldiram's. The deal was signed after months of negotiation.

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Haldiram's was started in 1937 with a tiny shop in the city of Bikaner in Rajasthan. It was founded by Ganga Bhishen Agarwal, fondly known as Haldiram Ji. By 1982, Haldiram's had set up shop in Delhi. One of Haldiram's most popular snacks is bhujia, which is sold for as little as Rs 10. Its snacks business has proved a tempting asset for many foreign investors. Haldiram's established its first overseas factory in the UK in 2016. Haldiram's is also an FMCG company as most of its restaurants have an integrated retail section, where packaged Indian snacks and confectioneries are sold under its own brand.