Why are People Linking Haldiram's with SpaceX?

In a recent development, one of India's beloved snack brands, Haldiram's, is in talks to sell a part of its stake to Alpha Wave, a global investment company. According to reports, the Bhujiya brand has finalised a Rs. 5,600 crore stake sale to Alpha Wave, marking a 6% share to be owned by the New York-based firm after the deal. This is not the only deal that has made Haldiram's name surface in recent times. Just a few days back, Singapore's state-owned investment firm Temasek bought a 9% stake in the brand, amounting to Rs. 8,500 crore. 

These deals are a part of the Indian brand's global expansion and eventual IPO launch, as per the reports. Promoters, comprising the Agrawal family branches from Nagpur and Delhi, who have recently merged, have gained Rs. 13,000 crore from these transactions, which include a stake sale to the Abu Dhabi-based International Holding Company (IHC). After the back-to-back deals, Haldiram's is now valued at $10 billion, becoming one of India’s largest valued packaged food sector brands. These funds will be used to expand its operations in markets such as the United States and the Middle East.

But where is SpaceX in all this?

While SpaceX itself has no direct connection to Haldiram's, the buzz began when Alpha Wave, a recent collaborator with the snacking brand, was linked to both companies. Alpha Wave, known for its diverse investment portfolio, also backs Elon Musk's space technology company, SpaceX. This association sparked industry chatter, loosely tying Musk’s name to Haldiram’s. However, beyond the speculation, Haldiram’s recent deals signify its strategic expansion, making it a major development in the industry and further solidifying its presence in the FMCG market.

Also, did you know there are 4 different Haldiram's in India? Read here.