Balaji Wafers Announces Strategic Investment from General Atlantic

Gujarat, 22 January 2026 – Balaji Wafers, one of India’s largest snack food brands, today announced that it has entered into a definitive agreement to receive a strategic investment from General Atlantic, a leading global investor. Financial terms of the transaction were not disclosed.

Founded in 1981 by the Virani family, Balaji Wafers has grown from a home-based enterprise into one of India’s largest packaged snack brands. The Company has built its brand on the promise of consistent high-quality, taste and availability, which is supported by its continuous investment in automation, supply chain, innovation, as well as its people and channel partners. Balaji Wafers offers a diverse portfolio across Namkeen, Western snacks, potato wafers, noodles, chikki, papad, and confectionery, all of which have been well received by consumers. Over the years, the Company has successfully scaled its operations from its home base in Gujarat to become a leading player across multiple states in India. In addition to its strong domestic presence, Balaji Wafers exports its products to around 25 countries worldwide. 

With General Atlantic’s investment, Balaji Wafers will focus on further strengthening key corporate functions across the Company and accelerating innovation. Drawing on General Atlantic’s global expertise in the food and consumer sectors, the Company plans to accelerate its expansion across India.

Chandubhai Virani, Founder & Chairman at Balaji Wafers, said: “This partnership marks an important milestone in our journey. General Atlantic’s deep understanding of consumer businesses, track record of working with founder families and long-term approach to value creation, align well with our vision for Balaji Wafers.” Keyur Virani, Whole-time Director, added: “General Atlantic’s investment will support our efforts to establish and operate world-class facilities, invest in innovation and build a professional team to help drive the next phase of growth for the Company. We are excited to extend our footprint across India while staying true to the quality and taste that our consumers trust.” 

Shantanu Rastogi, Managing Director and Head of India at General Atlantic, said: “Balaji Wafers is a true Indian success story. The Company has modernised its production capabilities while preserving the flavour and quality that its consumers have grown to love. We see significant growth potential in India’s packaged snacks market as households increasingly seek affordable, convenient and high-quality food products. Balaji Wafers is well positioned to capitalise on this opportunity, and we look forward to partnering with Chandubhai, Keyur and the entire Balaji team as the Company enters its next phase of growth.”

Intensive Fiscal Services Pvt. Ltd. acted as the exclusive advisor to Balaji Wafers. Under the leadership of Mr. D.K. Surana, Intensive Fiscal Services is a leading investment bank in the consumer sector.

The transaction is subject to customary regulatory approvals and is expected to close later in 2026.

About Balaji Wafers

Balaji Wafers is one of India’s largest snack food brands. Headquartered in Gujarat, the company is known for its wide portfolio of high-quality and affordable snack products. Supported by advanced manufacturing facilities, Balaji Wafers has established a robust and expansive retail footprint across multiple regions of India. 

About General Atlantic

General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $118 billion in assets under management, inclusive of all strategies, as of September 30, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

Media Contacts

Balaji Wafers
Jay Sachdev
[email protected]

General Atlantic
Jess Gill
[email protected]