Popular Indian snack brand Haldiram’s joined Tata Consumer Products to deny a report by the Reuters news agency that it is considering selling its 51 per cent stake to the Indian conglomerate.

In a statement, Haldiram's said, "We categorically deny recent reports of a 51 per cent stake sale and wish to clarify that we are not engaged in any discussions with Tata Consumer Products."

<h2>Tata Group also denies&nbsp;</h2>

The clarification came hours after Tata Consumer Products (TCPL) denied reports of buying a majority stake in the popular snack brand.

"The company is not in negotiations as reported" to acquire Haldiram's, TCPL said in a regulatory filing.

The filing was in response to a clarification sought by the NSE and the BSE regarding the reports.

"Tata Consumer Products does not comment on market speculation," a company spokesperson said earlier in the day.

Following the clarification, Tata Consumer Products witnessed a&nbsp;decline of over 2.60 per cent in its share price.

<h2>Report said Tata was unhappy with Haldiram's valuation&nbsp;</h2>

The Reuters report had initially claimed that Tata Group's consumer unit was engaging in discussions to purchase a majority stake in Haldiram's and that it expressed concerns about the $10 billion valuation sought by the snack manufacturer.

The report quoted anonymous sources with direct knowledge of the discussions to substantiate its claim. It further said that Tata found Haldiram's asking price to be quite high.

<h2>Speculations rife of Haldiram's selling stake&nbsp;</h2>

Meanwhile, there are speculations that several private equity firms, including Bain Capital, are also in talks with Haldiram's regarding the sale of a 10 per cent stake.

Haldiram's is a family-run business founded in a small shop in 1937. It has dominated the Indian markets with lip-smacking snacks that are widely available in mom-and-pop stores across India.

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It commands an almost 13 per cent share of India's $6.2 billion savoury snack market, rivalling Pepsi's Lay's chips.

Haldiram's snacks are also sold in international markets, including Singapore and the United States. The company operates approximately 150 restaurants that serve a variety of local and Western cuisines, as well as sweets.

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TCPL, on the other hand, owns brands such as Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulfull and Eight O'clock in the tea, coffee and beverages segment and Himalayan, Gluco+ in the liquid beverages.

Reportedly, the company is planning to expand in the food and beverages sector.

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Popular Indian snack brand Haldiram’s joined Tata Consumer Products to deny a report by the Reuters news agency that it is considering selling its 51 per cent stake to the Indian conglomerate.

Popular Indian snack brand Haldiram’s joined Tata Consumer Products to deny a report by the Reuters news agency that it is considering selling its 51 per cent stake to the Indian conglomerate. In a statement, Haldiram's said, "We categorically deny recent reports of a 51 per cent stake sale and wish to clarify that we are not engaged in any discussions with Tata Consumer Products." Tata Group also denies The clarification came hours after Tata Consumer Products (TCPL) denied reports of buying a majority stake in the popular snack brand. "The company is not in negotiations as reported" to acquire Haldiram's, TCPL said in a regulatory filing. The filing was in response to a clarification sought by the NSE and the BSE regarding the reports. "Tata Consumer Products does not comment on market speculation," a company spokesperson said earlier in the day. Following the clarification, Tata Consumer Products witnessed a decline of over 2.60 per cent in its share price. Report said Tata was unhappy with Haldiram's valuation The Reuters report had initially claimed that Tata Group's consumer unit was engaging in discussions to purchase a majority stake in Haldiram's and that it expressed concerns about the $10 billion valuation sought by the snack manufacturer. The report quoted anonymous sources with direct knowledge of the discussions to substantiate its claim. It further said that Tata found Haldiram's asking price to be quite high. Speculations rife of Haldiram's selling stake Meanwhile, there are speculations that several private equity firms, including Bain Capital, are also in talks with Haldiram's regarding the sale of a 10 per cent stake. Haldiram's is a family-run business founded in a small shop in 1937. It has dominated the Indian markets with lip-smacking snacks that are widely available in mom-and-pop stores across India. Also read | India to emerge as new manufacturing centre in the world: Foxconn Chairman Liu It commands an almost 13 per cent share of India's $6.2 billion savoury snack market, rivalling Pepsi's Lay's chips. Haldiram's snacks are also sold in international markets, including Singapore and the United States. The company operates approximately 150 restaurants that serve a variety of local and Western cuisines, as well as sweets. Also read | More than 400,000 Indians waiting for Green Card won't get it before death: Study TCPL, on the other hand, owns brands such as Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulfull and Eight O'clock in the tea, coffee and beverages segment and Himalayan, Gluco+ in the liquid beverages. Reportedly, the company is planning to expand in the food and beverages sector. WATCH WION LIVE HERE

Haldiram’s denies reports of selling majority stake to Tata Group

Amid uncertainty over the future of <a href="https://www.wionews.com/business-economy/jet-airways-pilots-defer-decision-not-to-fly-sets-april-15-deadline-to-clear-dues-207023">Jet Airways</a>, the consortium of SBI-led lenders Thursday said bids for a stake sale would be invited on April 6 and other options would be explored in case the stake sale does not result in an "acceptable outcome".

After taking stock of the current situation at the cash-strapped Jet Airways, which is currently operating less than 30 planes, the lenders said they would pursue a resolution plan for the carrier in a time-bound manner under the present legal and regulatory framework.

The expressions of interest for selling stake in the ailing airline would be invited on April 6 and the last date for submission of bids would be April 9, a statement issued by the SBI on behalf of 26 lenders said.

SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.

"The lenders are cognisant that the outcome of the efforts of the lenders will depend on the interest shown by the parties on sale of stake in the company," the statement issued late in the evening said.

"Whilst all efforts will be made for the stake sale by the lenders, other options may be considered by the lenders should these efforts not result in an acceptable outcome," it said.

The statement was issued after a nearly three-hour meeting of the lenders in the national capital. The meeting was chaired by SBI Chairma Rajnish Kumar, who earlier in the day met several government officials in the finance and civil aviation ministries.

Under the debt resolution plan approved by the Jet Airways' board on March 25, lenders have taken majority stake in the airline and are set to infuse Rs 1,500 crore funds. Besides, the carrier's founder and promoter Naresh Goyal as well as his wife Anita Goyal quit the board. The shareholding of Goyals have come down to 25 per cent from 51 per cent earlier.

On Wednesday, Naresh Goyal, also former chairman of the airline, said he had agreed to every term and condition laid down by lenders to ensure timely release of funds for the airline.

Acute financial crunch has forced the airline to ground aircraft, cancel flights and delay payment of salaries, including to pilots.

Earlier in the day, Civil Aviation Secretary Pradeep Singh Kharola said Jet Airways is currently operating a fleet of 26 planes and the airline right now fulfils the criteria for operating on international routes.

Jet Airways, which is grappling with acute financial woes, had a fleet of around 119 planes.&nbsp;

Amid uncertainty over the future of Jet Airways, the consortium of SBI-led lenders Thursday said bids for a stake sale would be invited on April 6 and other options would be explored in case the stake sale does not result in an "acceptable outcome".

Amid uncertainty over the future of Jet Airways, the consortium of SBI-led lenders Thursday said bids for a stake sale would be invited on April 6 and other options would be explored in case the stake sale does not result in an "acceptable outcome". After taking stock of the current situation at the cash-strapped Jet Airways, which is currently operating less than 30 planes, the lenders said they would pursue a resolution plan for the carrier in a time-bound manner under the present legal and regulatory framework. The expressions of interest for selling stake in the ailing airline would be invited on April 6 and the last date for submission of bids would be April 9, a statement issued by the SBI on behalf of 26 lenders said. SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore. "The lenders are cognisant that the outcome of the efforts of the lenders will depend on the interest shown by the parties on sale of stake in the company," the statement issued late in the evening said. "Whilst all efforts will be made for the stake sale by the lenders, other options may be considered by the lenders should these efforts not result in an acceptable outcome," it said. The statement was issued after a nearly three-hour meeting of the lenders in the national capital. The meeting was chaired by SBI Chairma Rajnish Kumar, who earlier in the day met several government officials in the finance and civil aviation ministries. Under the debt resolution plan approved by the Jet Airways' board on March 25, lenders have taken majority stake in the airline and are set to infuse Rs 1,500 crore funds. Besides, the carrier's founder and promoter Naresh Goyal as well as his wife Anita Goyal quit the board. The shareholding of Goyals have come down to 25 per cent from 51 per cent earlier. On Wednesday, Naresh Goyal, also former chairman of the airline, said he had agreed to every term and condition laid down by lenders to ensure timely release of funds for the airline. Acute financial crunch has forced the airline to ground aircraft, cancel flights and delay payment of salaries, including to pilots. Earlier in the day, Civil Aviation Secretary Pradeep Singh Kharola said Jet Airways is currently operating a fleet of 26 planes and the airline right now fulfils the criteria for operating on international routes. Jet Airways, which is grappling with acute financial woes, had a fleet of around 119 planes.

Jet Airways: Lenders to invite bids for stake sale on April 6

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