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Haldiram's | India's largest snack company. Temasek and others took 10%

2026.09.19

Article summary

Haldiram's is India's largest food company in namkeen and confectionery. Its snack business is consolidated under Haldiram Snacks Food. In 2025 Temasek acquired about 10% for about 1 billion dollars, followed by IHC and Alpha Wave Global taking about 6% combined, both at a valuation of about 10 billion dollars (about ₹85,000 crore, with 1 crore = 10 million rupees). FY2024 revenue was about ₹12,800 crore. A listing has been the subject of speculation.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

Haldiram's is India's largest food company in namkeen (savory snacks) and confectionery. In 2025 Singapore's Temasek, the UAE's IHC, and Alpha Wave Global acquired minority stakes one after another, putting the valuation at about 10 billion dollars.

Company profile

Item	Details
Legal name	Haldiram Snacks Food Private Limited
Headquarters	Noida, Uttar Pradesh / Delhi
Revenue	₹12,800 to 14,000 crore in FY2024 (the range varies by source because the company is unlisted, approx. 223 billion to 244 billion yen)
Valuation	About 10 billion dollars (about ₹85,000 crore, approx. 1.5 trillion yen, at the time of the 2025 investments)
Main investors	Temasek (about 10%, about 1 billion dollars), IHC and Alpha Wave Global (about 6% combined)
Business	Manufacture and sale of namkeen, confectionery, and instant foods, and restaurant operations
Listing	Unlisted (an IPO has been the subject of speculation)
Official website	haldirams.com

Business and strengths

Its range is broad, from bhujia, namkeen, and mithai (Indian sweets) to frozen samosas and parathas, and the products flow not only to retailers at home but also to Indian grocery stores overseas in markets such as the United States and the United Kingdom. It also runs restaurants and sweet shops, supporting the brand through both products and stores.

It was originally run as separate companies by region, but it brought the snack business together into one entity before taking in outside capital.

Recent developments

In 2025 Temasek acquired about 10% for about 1 billion dollars, followed by IHC and Alpha Wave Global taking about 6% combined. Both were on terms that put the valuation at about 10 billion dollars (about ₹85,000 crore). Both were transactions in 2025.

Points for Japanese companies

It is the largest counterpart in India's snack market, and from the perspective of anyone selling ingredients or equipment it is also the largest prospect. It also has routes for sending products to Indian grocery stores overseas.