Haldiram's clarifies: No ongoing takeover talks with Tata

The restaurant and food industry recently stirred with excitement following a Reuters report dated September 6, which suggested that Haldiram's, a renowned snack brand, was in discussions with potential investors for a stake sale. Tata Group's consumer unit emerged as one of the interested parties eyeing a 51% stake in the company, which Haldiram's valued at $10 billion. However, Haldiram's has issued a statement refuting these takeover claims made by the report.

Haldiram's, a well-established food brand celebrated for its high-quality sweets and savory snacks, boasts a history dating back to 1937. Over the years, it has become a household name, offering a diverse range of delectable items such as Bhujia, namkeen, mithai, ghevar, and laddoos through its outlets.

Haldiram's management has categorically denied any ongoing discussions with Tata Group regarding a takeover. In a statement, they clarified, "We categorically deny recent reports of a 51% stake sale and wish to clarify that we are not engaged in any discussions with Tata Consumer Products."

Interestingly, following Reuters' report on the potential talks, Tata Consumer shares experienced a significant surge, closing over 4% higher in Mumbai trade.