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- Balaji Wafers
Balaji Wafers Revenue, Valuation, Funding & Investors
Balaji Wafers is valued at $4B as of November 2025, a 6.8x multiple on its last reported $584M revenue.
Last Balaji Wafers valuation
$4B
Secondary · Nov 2025
Balaji Wafers revenue
$584M
Secondary · Nov 2025
Key investors in Balaji Wafers
General Atlantic
About Balaji Wafers
Balaji Wafers is a Mathura-based snack manufacturer in Uttar Pradesh, India, specializing in namkeen products like wafers, bhujia, and sev. Established in 1976, the company distributes across India through a network serving major cities and exports to international markets. Its product range includes flavored potato chips, extruded snacks, and traditional Indian savory mixes, available on its website balajiwafers.com.
Founded
1984
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Revenue
$584M (Nov 2025)
Valuation
$4B (Nov 2025)
Sectors
Balaji Wafers Valuation
Balaji Wafers is currently valued at $4B, based on its secondary sale in November 2025.
The $280M round was led by General Atlantic.
Balaji Wafers valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2025 | Secondary | $4B | 6.8x |
Balaji Wafers Revenue
Balaji Wafers' latest recorded revenue is $584M, as of its secondary sale in November 2025. At a $4B valuation, that implies a 6.8x revenue multiple.
Balaji Wafers revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2025 | $584M | $4B | 6.8x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Balaji Wafers Funding History
Balaji Wafers has 1 recorded secondary share sale and no primary funding rounds.
Balaji Wafers funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Secondary | General Atlantic (lead) | $280M | $4B | Balaji Wafers is a Gujarat-based packaged snacks company founded in 1981, offering over 65 products including chips, noodles, namkeen, and confectionery, with a strong presence in central and western India through 1,225 dealers and exports to 25 countries. General Atlantic acquired a 7% stake for INR 2,500 crore (USD 282 million), valuing the company at INR 35,000 crore (USD 4 billion) in a transaction reported in November 2025 and finalized by January 2026. The deal, driven by the next generation of the Virani family, aims to bring strategic capital for scaling, expansion, and innovation. In FY24 (year ended March 2024), Balaji Wafers reported revenues of INR 5,453.7 crore (USD 610 million), up 11% year-on-year, and profit of INR 578.8 crore (USD 65 million). The company had previously considered divesting around 10% at a higher valuation near INR 40,000 crore. This investment highlights strong global interest in India's packaged snacks sector, amid rising urbanization and demand for convenient foods, following deals like Temasek's $1 billion investment in Haldiram’s. General Atlantic, managing $118 billion in assets, focuses on high-growth consumer businesses and has a portfolio in India including Reliance Retail and PhonePe. Balaji Wafers plans an IPO in about five years and will use the funds to strengthen corporate functions and accelerate pan-India expansion. |
Who has invested in Balaji Wafers?
1 investor has backed Balaji Wafers across its funding rounds, including General Atlantic.
Lead investors include General Atlantic.
Balaji Wafers Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Balaji Wafers investors. Start Free Trial | ||||
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Start Free TrialBalaji Wafers Competitors
Balaji Wafers competitors include listed companies like Kewpie, Patanjali Foods, Coca-Cola Andina and Uni-President China, and private ones like Hindustan Coca-Cola Beverages and Saturnbird Coffee.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.3B | $421M | $4B | 1.1x | ||
| Publicly listed | $4.2B | $170M | $4B | 0.9x | ||
| Private | - | - | $3.9B | - | ||
| Publicly listed | $3.5B | $620M | $4.1B | 1.3x | ||
| Publicly listed | $4.7B | $537M | $3.8B | 0.6x | ||
| Private | $61M | - | $4.5B | 74.0x |
Balaji Wafers Public Comps
Balaji Wafers is still privately-owned, but its public comps include Kewpie, Patanjali Foods, Coca-Cola Andina, Uni-President China, Want Want China, San Miguel Food, Strauss Group, Nisshin Seifun Group, NH Foods and Cranswick.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.3B | $421M | 1.2x | 1.1x | 9.1x | 10.5x | |||
| $4.2B | $170M | 1.0x | 0.9x | 25.0x | 19.5x | |||
| $3.5B | $620M | 1.4x | 1.3x | 8.1x | 7.0x | |||
| $4.7B | $537M | 0.6x | 0.6x | 5.5x | 5.4x | |||
| $3.6B | $830M | 0.8x | 0.8x | 3.5x | 3.6x | |||
| $6.7B | $1.3B | 0.9x | - | 4.5x | - | |||
| $2.6B | $380M | 2.0x | 1.3x | 13.5x | - | |||
| $5.6B | $525M | 0.7x | 0.7x | 7.3x | 8.1x | |||
This data is available for Pro users. Sign up to see all Balaji Wafers competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Balaji Wafers
| When was Balaji Wafers founded? | Balaji Wafers was founded in 1984. |
| Where is Balaji Wafers headquartered? | Balaji Wafers is headquartered in Rajkot, India. |
| Is Balaji Wafers publicly listed? | No, Balaji Wafers is a private, VC-backed company. |
| What is Balaji Wafers' valuation? | Balaji Wafers was last valued at $4B in its secondary sale in November 2025. |
| Who are Balaji Wafers' investors? | Balaji Wafers' investors include General Atlantic. |
| What is Balaji Wafers' revenue? | Balaji Wafers' latest recorded revenue is $584M (November 2025). |
| What is Balaji Wafers' revenue multiple? | Balaji Wafers' latest valuation implies a 6.8x revenue multiple ($4B valuation on $584M of revenue). |
| Which companies are comparable to Balaji Wafers? | Companies comparable to Balaji Wafers include Kewpie, Patanjali Foods, Hindustan Coca-Cola Beverages, Coca-Cola Andina, Uni-President China and Saturnbird Coffee. |
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