Tata to take over Haldiram’s?

Speculations have it that India’s largest conglomerate Tata is in consultation with sweet snacks and restaurant company Haldiram’s to have a 51% ownership of the company. Tata Consumer Products are however reportedly not on board with the 10 billion dollars valuation of Haldiram’s as their annual revenue is itself 1.5 billion dollars. 

The reports have led to a 4% rise in Tata’s share. Tata Consumers however declined from publicly disclosing the proceedings of the tie up. 

"We would like to add that the Company evaluates various strategic opportunities for growth and expansion of the business of the Company, on an ongoing basis. The Company will make appropriate announcements in compliance with the obligations under SEBI (LODR) Regulations, 2015, as and then any such requirement arises," Tata Consumer stated. 

"If you want to suddenly grow big in size, no one better to provide access than Haldiram's. No other brand attacks packaged food, and food services, with equal panache," said Ankur Bisen, head of consumer and retail at Indian consultancy Technopak as quoted by The Economic Times. 

Haldiram had stated its intentions to attract private equity last year and has reportedly also been in talks with Bian Capital for a 10% ownership in the company.