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The Competition Commission of India (CCI) has approved a proposal by private equity funds Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP to acquire less than 10 per cent of the issued and paid-up equity share capital of Haldiram Snacks Food Private Limited.

The target company and its affiliates are engaged in the manufacture and sale of a wide range of packaged food products across India, including snacks, sweets, dairy products, ready-to-eat meals, bakery items, chocolates, and non-carbonated ready-to-drink beverages.

While further details of the deal are awaited in the CCI鈥檚 detailed order, the transaction marks continued private equity interest in India's fast-growing branded food sector.