Balaji Wafers in talks with leading PE firms to sell up to 10% stake

PE funds, flush with record capital, are eyeing opportunities in India's branded consumer, technology, and healthcare sectors

Gujarat-based Balaji Wafers is in talks with leading private equity (PE) firms to sell up to 10 per cent of the company at a valuation of about ₹40,000 crore ($4.53 billion), according to people familiar with the matter. 

The Virani brothers — Chandubhai, Bhikhubhai, and Kanubhai — who founded and control the firm, are considering a partial stake sale to fund expansion across India. One of the people said Haldiram’s recent deal, which valued the firm at $10 billion, has set a benchmark in the snacks category, prompting Balaji’s promoters to explore a cash-out. 

In March this year, Haldiram raised