Nagpur/New Delhi: Aimed at creating a large and one snacking organisation, days after ethnic snacks major Bikaji, a company from the stable of the original Haldiram family, listed on the bourses, the other three brothers, who run Haldiram’s in Delhi and Nagpur, have decided to merge their operations, according a report in CNBC TV 18 by Shilpa Ranipeta.
According to the report, the process of the merger between Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International is currently underway and bankers have been approached for the same. The merger is part of a plan to file for an Initial Public Offering (IPO) in a bid to debut on Dalal Street in the next 18 months, as per people in the know, the report said.
According to data from a survey from Frost & Sullivan commissioned during Bikaji’s IPO, both the Haldiram companies combined currently hold 48.5 percent share in India’s ethnic snacks market and 8.6 percent share in the western snacks market.
The report further said that the owners of both Haldirams and Bikaji are four brothers who split the original Haldiram, founded in 1932 by their grandfather Ganga Bishan Agarwal. The oldest brother Shiv Kishan Agarwal runs the Nagpur entity with control over the west and south India market, while the second brother Shiv Ratan Agarwal runs Bikaji.
