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Talks are going on with Tata Consumer Products Limited, a Tata Group company. If the deal goes through, Tata Consumer will compete directly with Mukesh Ambani’s Reliance Retail. Let us tell you that Tata Consumer Products owns the famous British tea company Tetley, while it is doing business in India as a joint venture with Starbucks.
51% intend to buy stake
According to news agency Reuters, Tata Consumer Products is in talks to buy at least 51% stake in Haldiram. However, the matter is stuck on its valuation. The Tata Group company is not comfortable with a $10 billion valuation. The report quoted sources as saying that Haldiram is also in talks with private equity firms including Bain Capital about selling a 10% stake. However, a Tata Consumer Products spokesperson did not comment on the news. A spokesperson said we do not comment on market speculation. Haldiram chief executive Krishnakumar Chutani declined to comment.
Infra company gets ₹101.64 crore order, race to buy shares, 20% upper circuit, shares at ₹6
BSE sought a response
Meanwhile, the Bombay Stock Exchange (BSE) has sought clarification on the news of Haldiram’s acquisition by Tata Consumer Products. Let us tell you that on Wednesday this stock closed with an increase of more than 4%. The stock has reached the level of Rs.883 during trading. With this, the stock has come very close to its 52-week high. In July 2023, this share reached 883.85 rupees.