Balaji Wafers and General Atlantic Finalise Strategic Investment Deal

General Atlantic, a US-based private equity firm, has acquired a minority stake in Gujarat-based snacks manufacturer Balaji Wafers for an undisclosed sum, as per The Economic Times report.  

Purpose of the Investment 

Balaji Wafers said the funds will be used to strengthen internal corporate functions, support product development and expand operations.  

The company is also planning to professionalise its management structure and is targeting a public listing within the next 3 to 4 years. Intensive Fiscal Services Pvt. Ltd acted as the exclusive advisor on the transaction. 

Sector Context 

The deal comes as investor interest continues in India’s packaged snacks and consumer food segment, supported by demand for affordable and convenient food products.  

As per report, other consumer companies, including Haldiram, Iscon Balaji, Theobroma and VIP Industries, have undertaken fundraising or strategic transactions, while firms such as HyFun Foods and Ratnadeep Retail are also exploring external capital. 

Balaji Wafers Overview 

Founded in 1981 by the Virani brothers, Balaji Wafers started as a home-based venture and has grown into a large domestic snack brand. The company produces potato wafers, namkeen, noodles, confectionery, chikki and papad.  

Its products are sold across several Indian states and exported to around 25 countries. The firm has invested in automation, logistics and distribution to support scale. 

Investor Profile 

General Atlantic manages about $118 billion in assets across growth equity, credit and infrastructure strategies. Its Indian investments include Reliance Retail, PhonePe, Amagi, ASG Eye Hospitals and Acko. 

Read More: Semiconductor Firm Sensesemi Secures ₹25 Crore for AI Chip Development! 

Conclusion 

The minority investment adds institutional capital as Balaji Wafers prepares for organisational changes and potential access to public markets over the medium term. 

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