Key Takeaways
- • Haldiram Snacks Food, backed by Singapore's Temasek, has reportedly begun preparations for an initial public offering, according to an Economic Times report.
- • Haldiram has appointed EY to manage the IPO process, with an issue size possibly around Rs 10,000 crore and a targeted valuation reportedly above Rs 1 trillion.
- • The listing could come in the latter part of next year, and existing investors include UAE-based International Holding Company (IHC), Alpha Wave Global and US-based L Catterton.
- • Indian fintech firm InCred Capital has acquired Quintessentially India, the Indian arm of London-headquartered luxury lifestyle management company Quintessentially.
- • The deal expands InCred's offering beyond wealth management into lifestyle access and experiences for high-net-worth individuals, business families and corporates.
Summary
Haldiram Snacks Food, which counts Singapore's state investment firm Temasek among its backers, is understood to have begun preparations to launch an initial public offering. According to an Economic Times report cited in the coverage, the company has appointed EY to manage the process. The issue size could be worth around Rs 10,000 crore, and the valuation being targeted could exceed Rs 1 trillion. The company could make its stock market debut in the latter part of next year. Haldiram's other investors include UAE-based International Holding Company (IHC), Alpha Wave Global and US-based L Catterton.
In a separate development, Indian fintech firm InCred Capital has acquired Quintessentially India, the Indian arm of the London-headquartered luxury lifestyle management company. Quintessentially was founded in London in 2000, operates a global network of more than 35 offices, and entered India in 2010. It serves high-net-worth individuals, business families and corporates. Bhupinder Singh, founder of InCred Group, said that with Quintessentially now part of InCred Capital, the firm can extend its offering beyond wealth management into extraordinary access and experiences.
InCred Capital is the institutional, wealth management and asset management arm of InCred Group. Its businesses span investment banking, institutional equities, wealth management and asset management, serving corporates, institutional investors and high-net-worth individuals. The acquisition reflects InCred's push to broaden its client proposition in India's affluent segment.
In a separate development, Indian fintech firm InCred Capital has acquired Quintessentially India, the Indian arm of the London-headquartered luxury lifestyle management company. Quintessentially was founded in London in 2000, operates a global network of more than 35 offices, and entered India in 2010. It serves high-net-worth individuals, business families and corporates. Bhupinder Singh, founder of InCred Group, said that with Quintessentially now part of InCred Capital, the firm can extend its offering beyond wealth management into extraordinary access and experiences.
InCred Capital is the institutional, wealth management and asset management arm of InCred Group. Its businesses span investment banking, institutional equities, wealth management and asset management, serving corporates, institutional investors and high-net-worth individuals. The acquisition reflects InCred's push to broaden its client proposition in India's affluent segment.
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