Alpha Wave Global, an investment powerhouse backing SpaceX, is reportedly in discussions to acquire a 6% stake in Haldiram Snack Food, according to an Economic Times report. The deal, estimated at ₹5,160 crore, could mark one of the largest private equity transactions in India’s consumer sector.
Previously known as Falcon Edge Capital, Alpha Wave Global is part of UAE’s Sheikh Tahnoon bin Zayed’s trillion-dollar investment empire. This will be the second major stake sale for Haldiram’s after Singapore-based Temasek secured approximately 9% of the company. If the deal goes through, the Agarwal family’s stake in Haldiram’s will be reduced by 15%.
Despite its potential investment, Alpha Wave Global will not secure a board seat at Haldiram’s, while Temasek is expected to gain at least one. Alpha Wave has an extensive global portfolio, backing companies like Lyft and Klarna. In India, it has invested in brands such as VLCC, Lenskart, Chaayos, and Dream11, expanding its footprint in the country’s growing market.
The Indian snack industry is currently valued at ₹42,694 crore (as of 2023 estimates), making Haldiram’s a significant player in the space. Neither Alpha Wave Global nor Haldiram’s have officially commented on the deal yet.
