The deal is unlikely to happen for now as the potential investors have stopped the talks over the high Rs 40,000 crore valuation demand, reports note
On account of tepid response from private equity funds and strategic investors, Balaji Wafers may put the process of minority stake sale on hold as of now. Media reports have attributed the same to steep valuation ask by the company.
Reports noted that the deal is unlikely to happen for now as the potential investors have stopped the negotiations over the high Rs 40,000 crore valuation that Balaji Wafers is demanding. On the other hand, the company is also not looking to sell the 10 per cent stake at a lower valuation. However, it may explore options to offload a stake lower than 10 per cent.
ITC and PepsiCo were also interested at one point but the parties decided to step back as they were not looking to acquire a minority stake. Balaji Wafers is not in a hurry to sell the stake, the reports pointed out. As far as the financials are concerned, the company posted Rs 6,500 in sales in the financial year 2025. The company competes with large players like Haldiram’s and PepsiCo nationally.
Reports emphasised that regional snack brands in the country are attracting investor interest as they have been growing at a faster pace than the bigger players. Investors like Alpha Wave Global, Singapore’s Temasek and IHC together acquired around 10 per cent stake in Haldiram Snacks Food in March.
Balaji Wafers is considering this stake sale as a way of bringing in professional management, as the company already enjoys a healthy cash reserve. The company, which is looking at an initial public offering (IPO) going ahead, will put the money raised from the stake sale in the family trust and will not be utilised for its operations, as per the reports.
