Abu Dhabi’s IHC invests in India’s Haldiram as global expansion plans accelerate

Indian snack giant Haldiram’s has confirmed the participation of Abu Dhabi-based International Holding Company (IHC) in its latest equity financing round, alongside New York-based Alpha Wave Global, further strengthening its push for international expansion.

In an official statement cited by PTI, the company said, “Haldiram’s, India’s leading snack and food brand, is pleased to announce the addition of two new investors—International Holding Company (IHC) and Alpha Wave Global—to its ongoing equity round, following Temasek’s recent participation.”

The announcement comes shortly after Singapore’s Temasek reportedly acquired a 10% stake in Haldiram’s for around $1 billion, valuing the company at approximately $10 billion.

While the financial details of the IHC and Alpha Wave Global deals were not disclosed, reports suggest a combined investment of around $70 million for a 6% equity stake. A company spokesperson told Reuters the new partnership represents “patient capital and long-term support” for Haldiram’s growth ambitions.

With backing from IHC and Alpha Wave Global, Haldiram’s plans to expand its footprint in key international markets, particularly the Middle East and the United States, where demand for Indian cuisine and snacks continues to grow. These regions will form a core part of the company’s global strategy moving forward.

According to the company, the partnerships will enable Haldiram’s to broaden its product offerings, scale operations, and strengthen its position as a global leader in Indian snack foods.

Founded in Bikaner, Rajasthan, in 1937, Haldiram’s boasts a diverse portfolio of over 400 products, ranging from traditional namkeens and Indian sweets to western snacks, cookies, pickles, and sherbets. The brand is a household name across India, particularly in the northern region, and now has its sights set firmly on global markets.