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    Balaji Wafers offers a range of traditional Indian Snacks, next to regular potato chips

    Balaji Wafers Pvt. Ltd is in advanced talks with Capital International Private Equity Funds (CIPEF) to sell nearly 15% in the snacks maker according to two people familiar with the development, who did not want to be named. One of them is directly involved with the transaction.

    “It is the decision of the next generation and since they have to run the business in future I have left the decision (of stake dilution) to them,” said Chandubhai Virani, managing director and founder, Balaji Wafers. Virani confirmed that talks were at an advanced stage with CIPEF. “We are looking at closing the deal with Capital International in a month’s time. We are looking at diluting close to 15% stake at a valuation of about Rs.4,000 crore for the company,” said a top official of Balaji Wafers who asked not to be named because of a non-disclosure agreement with the PE fund.

    Emails sent to the media relations team as well as to a US-based spokesperson of CIPEF on Wednesday did not elicit any response. A singapore official of the firm on Wednesday also declined to comment.