Singapore-headquartered Temasek has emerged as the frontrunner to pick up a minority stake in Haldiram's after months of negotiations, Moneycontrol reported. A term sheet has been signed between Temasek and Haldiram's promoters. Temasek is expected to pick up less than a 10% stake at a valuation of $10 billion (₹85,715 crore) to $11 billion (₹94,310 crore) for Haldiram's.