At least 10 private equity suitors circle Balaji Wafers for 10% stake

Balaji Wafers in talks with global PE giants, eyeing up to 10% stake sale at ₹40,000 crore valuation; ITC lone FMCG suitor, IPO planned in 5-6 years

Gujarat-based Balaji Wafers is in talks with at least 10 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), which includes the likes of Abu Dhabi Investment Authority (ADIA), KKR & Co., Kedaara Capital, Bain & Company, Carlyle, TPG, among others, according to people familiar with the matter. 

ChrysCapital, Multiples, TA Associates, L Catterton, Goldman Sachs, and Morgan Stanley have also expressed interest in the asset, one of the above-mentioned sources added. The source said ITC is the only fast-moving consumer goods company that has expressed