Mumbai: A consortium led by Blackstone, the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL), one of India's largest snack and convenience foods companies, reported the Economic Times.

The world's largest private equity fund and its partners aim to acquire 74-76% of the company, valuing it at $8-8.5 billion (Rs 66,400-70,500 crore).

Both ADIA and GIC are limited partners in Blackstone’s global funds.

The bid was submitted late last week, and if successful, it will be the largest private equity buyout in India to date.

HSFPL represents the combined packaged snacks and foods businesses of the Agarwal family’s Delhi and Nagpur factions.

In April 2023, the Competition Commission of India approved the demerger of Haldiram Foods International Private Limited and Haldiram Snacks Private Limited’s FMCG businesses into a new entity called Haldiram Snacks Foods.

Haldiram’s offers a wide range of products under well-known brands such as Haldiram’s, Haldiram’s Prabhuji, Bikanervala, Bhikharam Chandamal, Bikaji, and Bikano.