US-Based General Atlantic to Invest ₹2,500 Crore for 7% Stake in Balaji Wafers

US-based private equity major General Atlantic (GA) is in the final phase of acquiring a 7% equity stake in Gujarat’s leading snack manufacturer, Balaji Wafers Pvt Ltd, for ₹2,500 crore, as per the news reports. 

The deal, which values the company at approximately ₹35,000 crore ($4 billion), marks one of the biggest private investments in India’s packaged foods sector this year.

General Atlantic To Offer 7-10% Higher Pricing

The move follows Balaji’s earlier plans to dilute around 10% stake, though talks with investors such as Kedaara Capital, TPG, Temasek, and FMCG giants like PepsiCo and ITC didn’t materialise due to valuation differences. GA reportedly outbid other contenders by offering 7–10% higher pricing.

Balaji Wafers Overview

Established in 1982 in Rajkot, Balaji Wafers has grown into one of India’s most profitable regional FMCG companies, generating ₹6,500 crore in annual revenue and nearly ₹1,000 crore in net profit in FY2025. Despite a regional footprint limited to western India, the company commands about 65% market share in Gujarat, Maharashtra, and Rajasthan, ranking third nationally in the salty snack segment behind Haldiram’s and PepsiCo.

 Its success is attributed to a cost-efficient model spending only 4% of its revenue on advertising compared to the industry average of 8–12% and reinvesting in production to maintain quality and affordability. Balaji currently operates four large manufacturing plants and plans to double capacity to support nationwide growth.

Read More: Emami Q2FY26 Earnings Results Out: Revenue Drops 10% Amid GST Reform Transition!

Conclusion

The ₹2,500 crore investment marks a major milestone for Balaji Wafers as it steps into its next phase of growth. With General Atlantic’s support and a proven value-driven model, the company is set to expand its presence nationwide while preserving the entrepreneurial discipline that made it one of India’s most successful regional brands.

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