Haldiram's Snacks Foods IPO Upcoming

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About Haldiram's Snacks Foods

Haldiram’s Snacks Foods, established in 1937 in Bikaner, Rajasthan, has evolved into one of India’s leading FMCG brands in the packaged snacks industry. Originally founded by Ganga Bishan Agarwal as a small ethnic store, Haldiram has grown into a global name, offering a diverse range of products, including savoury snacks, confectionery, and ready-to-eat meals. The company’s products are available in over 100 countries, and it continues to innovate with sub-brands like Minute Khana, Cup Shup, and Cookie Heaven, as well as its recent foray into chocolates. Haldiram’s commitment to quality and variety has made it a household name in India and abroad.

Haldiram’s Valuation

Haldiram Snacks Foods has recently achieved a valuation of $10 billion, marking a significant milestone in its journey. This was underscored by the sale of a 10% stake to Singapore’s sovereign wealth fund Temasek for $1 billion in March 2025. This deal, the result of a year-long negotiation, highlights the company’s strong market position and potential. In addition to the Temasek deal, Haldiram is exploring further stake sales, with plans to offload another 5% for $500 million. These developments suggest the company is on track for an Initial Public Offering (IPO) within the next 2-3 years, a move that could further elevate its valuation.

Operations and Performance

Haldiram’s performance in the market reflects its strong financial standing. In FY24, the company reported a revenue of ₹14,000 crore with an EBITDA margin of approximately 20-21%. It has maintained a robust compounded annual growth rate (CAGR) of 16-17% and holds a dominant 40% market share in India’s snacks and savoury market. The company operates in a rapidly growing sector, with the Indian snack market projected to grow from ₹46,571 crore in 2024 to ₹1,01,811 crore by 2033. Haldiram’s success can be attributed to its widespread brand recognition, diverse product offerings, and its ability to adapt to changing consumer preferences.

Future Plans

Haldiram is positioning itself for further expansion and long-term growth. The company has merged its Delhi and Nagpur units into a single entity, Haldiram Snacks Foods Pvt Ltd. This move is part of a broader strategy to streamline operations and enhance financial performance. Additionally, Haldiram continues to explore global expansion, particularly in the US and the Middle East, while diversifying its portfolio to include new product categories. These efforts reflect the company’s goal to solidify its position as a leader in the global snack and FMCG markets.

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