Temasek Holdings, a Singaporean state investor, is reportedly in discussions to acquire a 10% to 15% stake in Haldiram Snacks Pvt Ltd., which could value the iconic Indian snack brand at approximately $11 billion. This potential investment may facilitate Haldiram's anticipated initial public offering (IPO), reflecting growing global interest in India's economy.

Founded in the 1930s by Ganga Bishan Agarwal, Haldiram's has evolved into India's largest snack company, offering a wide array of products, including traditional sweets, savory snacks, and frozen meals. The company also operates 43 restaurants across Delhi, further solidifying its presence in the Indian food sector.

In addition to Temasek, other major firms like Blackstone and Bain Capital are exploring opportunities to invest in Haldiram's, attracted by India's rapidly expanding consumer market. The Agarwal family is considering strategic options for the business, including a potential sale or IPO, as reported by Bloomberg.

Temasek's interest aligns with the increasing global focus on India's economy, which has become a hotspot for deal-making, particularly in sectors such as digitization and sustainable living. Over the past two decades, Temasek has invested nearly $37 billion in India, primarily acquiring minority stakes in firms to support their growth rather than seeking majority holdings. Recent investments include a minority stake in VFS Global, valued at around $7 billion.

While discussions with Haldiram's are ongoing, both Temasek and Haldiram's have declined to comment on the negotiations. The outcome of these talks could significantly impact Haldiram's future and the broader investment landscape in India's consumer sector.