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In a major development, Alpha Wave Global, the investment firm behind SpaceX, is reportedly in discussions to purchase a 6% stake in Haldiram Snacks Food for ₹5,160 crore, according to a report by The Economic Times. This move comes after Temasek, a prominent Singapore-based investment firm, acquired nearly 9% of the iconic Indian snack brand.
If the deal goes through, it will mark the second time Haldiram has sold a portion of its stake, reducing the Agarwal family’s shareholding in the company to 85%. However, neither Alpha Wave Global nor Haldiram has officially confirmed the transaction as of now.
Formerly known as Falcon Edge Capital, Alpha Wave Global is a significant player in global investments, with ties to Sheikh Tahnoon bin Zayed, the UAE’s national security advisor. Sheikh Tahnoon, whose business empire is valued in the trillions of dollars, is a major figure in the firm’s investment strategy.
Sheikh Tahnoon’s venture into India is not a new development. In 2022, he made a notable $2 billion investment in Gautam Adani’s conglomerate amid the Hindenburg controversy. Now, he’s turning his focus to Haldiram, further strengthening his business footprint in the country.
Although Alpha Wave Global is set to acquire a significant stake in Haldiram, the report indicates that the firm will not receive a seat on the company’s board. In contrast, Temasek, which has also invested in Haldiram, is expected to secure at least one position on the board.
