Tata Consumer Products Denies Report On Plan To Buy 51% Stake In Haldiram’s

Tata Consumer Products Ltd. refutes media claims of an impending stake purchase in snack brand Haldiram's. Initial report by Reuters hinted at Tata seeking control with Haldiram's desiring a $10 billion tag for 51% stake.

In a regulatory filing, Tata Consumer Products said, "The Company is not in negotiations as reported in the above-referred news article."

The company further clarified, saying, "We are not aware of any information that has not been announced to the Exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015."

Haldiram's also addressed the report, saying, "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."

As per Reuters, Tata Consumer is in talks to acquire at least 51% of popular food manufacturer Haldiram's but is uneasy with the $10 billion valuation demanded. The news source also reported that Haldiram's is in discussions with Bain Capital and other private equity firms about selling a 10% interest.

Following the report, the shares of Tata Consumer Products today dropped 2.44%, ended at Rs 858.40 per share on BSE. The shares have gained 2.81% in 1 week and 4.04% in 1 year.