Haldiram’s to set off mega fund-raising event

June 20, 2018,

 

Haldiram’s, India’s top snack company is all set to embark upon a mega fund-raising event and is looking to tap private equity funds for the same.

“The company has recently appointed i-bankers for the process and is looking to raise around Rs. 2,500 crore,” said the sources.

Still in infancy stage, it is not clear if the event proceeds will be used for business expansion or internal operations, sources added.

This is not the first time the company has planned a fund-raising round. On May 17, 2016, Haldiram’s was in talks with PE funds for a potential Rs. 1,300 crore financing round. “There is considerable interest in the private equity space for home grown food brands, but valuations have proven to be a hurdle in the past,” added a banking source.

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