General Atlantic Acquires 7% Stake in Balaji Wafers for ₹2,500 Crore

US-based private equity firm General Atlantic has acquired approximately a 7% stake in Balaji Wafers for ₹2,500 crore, valuing the Indian snack food major at ₹35,000 crore. The deal marks a significant milestone for the Rajkot-based company, known for its popular range of namkeens, wafers, noodles, papad, and confectionery. Founder Chandubhai Virani welcomed the investment, citing General Atlantic’s strong track record with consumer brands and founder-led businesses. The transaction underscores growing investor interest in India’s fast-growing FMCG and packaged foods sector. Balaji Wafers reported FY25 sales of ₹6,500 crore and a net profit of ₹1,000 crore, maintaining leadership in salty snacks across Gujarat, Maharashtra, and Rajasthan. It exports to around 25 countries and has expanded beyond regional roots into a pan-India brand. This move follows similar high-profile investments in rival Haldiram’s, including stakes by Temasek, IHC, Alpha Wave, and L Catterton, signaling robust appetite for premium Indian snack brands. General Atlantic, with $118 billion in AUM (as of Sept 2025), has an established presence in India through investments in PhonePe, Reliance Retail, Acko, and Amagi. Its entry into Balaji Wafers reflects confidence in the long-term growth of India’s branded food market.