US-based growth equity firm General Atlantic has acquired a minority stake of around 7% in Balaji Wafers, one of India’s largest homegrown packaged snacks companies, valuing the business at approximately Rs 35,000 crore. The transaction is estimated at around Rs 2,500 crore, marking one of the largest private equity deals in India’s snacks and FMCG segment.
The investment is aimed at supporting Balaji Wafers’ next phase of growth, with a focus on strengthening organisational capabilities, expanding distribution beyond its stronghold markets, and accelerating product innovation across categories such as wafers, namkeen, noodles, and confectionery. The Virani family will continue to retain management control of the company.
Founded in 1981, Balaji Wafers has built a dominant position in regional snacking markets through deep distribution, competitive pricing, and high-volume manufacturing. General Atlantic’s entry underscores rising global investor confidence in India’s fast-growing packaged snacks market, as established regional brands scale up to compete nationally and prepare for long-term capital market opportunities.
