Summary
Balaji Wafers’ minority stake sale is presently stalled as personal equity funds and tactical financiers withdrew due to the treat maker’s high 40,000 crore evaluation need. Creator Chandu Virani verified they are not in a rush to offer listed below their asking cost, contrasting with competing Haldiram’s current $10 billion offer.
New Delhi|Mumbai: Ethnic packaged treats Balaji Wafers’minority stake sale is most likely to have actually been placed on the back burner, due to warm reactions from personal equity funds and tactical financiers, on account of the high appraisal, several executives familiar with the advancements stated. “The deal is unlikely to happen for now, as private equity funds such as TPG and Temasek have halted negotiations over the steep ₹40,000 crore valuation that the snacks maker is demanding”executives at personal equity companies stated. When gotten in touch with by ET, Chandu Virani, creator and handling director of Balaji Wafers, stated: “We will not sell lower than our original demand of 10% stake at ₹40,000-₹45,000 crore; however, we are open to considering selling a stake lower than 10%.” He included that the Gujarat treats maker “is in no hurry” to offer any minority stake.
This remains in contrast to competing Haldiram Snacks Foods, which offered almost 15% stake to 3 worldwide personal equity financiers Singapore’s Temasek, Alpha Wave Global and International Holding Company (IHC) at an appraisal of $10 billion-plus (85,000 crore) in March this year, in what was the biggest personal equity handle the customer sector in India. The treats maker, owned by the Agarwal household, was valued at 35 times Ebitda multiples when personal equity companies had actually bought the business. “While investor interest has surged across regional consumer brands, whether it’s snacks, beverages or personal care since these offer captive market share in regional pockets, it’s not as if any valuations will work, more so at a time of intense competition,” stated among the executives pointed out above.
Tactical financiers such as ITC and PepsiCo too had actually checked out purchasing into Balaji Wafers, however withdrew later on considering that they were not eager on a minority stake, the executives pointed out above stated. “We are not in a rush to sell our stake. We are, as it is, growing very fast and with the goods & services tax (GST) benefits in place, we expect much higher demand,” Virani declared.
For the year FY25, Balaji Wafers reported 6,500 crore in sales with a net revenue of near 1,000 crore, regulative filings revealed. In market management position in choose markets in western India such as Gujarat and Maharashtra, the maker of ethnic namkeens and potato chips takes on bigger gamers Haldiram’s and PepsiCo nationally.
Research study company NielsenIQ stated in a June ’25 report that revival of smaller sized, local brand names are offering stiff competitors to tradition business throughout treats, noodles, biscuits, tea and cosmetics, on lower prices, faster development and last-mile reach allowed by fast commerce and ecommerce platforms. In the 40,000-crore treats market too, villages are leading development, according to the NielsenIQ report.