Balaji Wafers Pvt Ltd, manufacturers and distributors of potato chips and other grain-based bagged snacks, is looking for partners who will invest and help it expand operations. The same was stated by Chandubhai Virani, Founder and Managing Director, Balaji Wafers Pvt Ltd. PepsiCo Inc. is among suitors exploring a bid for Balaji Wafers as it pushes to sell more chips in developing countries, said a source. Indra Nooyi, CEO, PepsiCo Inc., has tried to wrest a greater share of snack markets in developing countries by appealing to local tastes, according to a reports.

“The Virani family plans to sell up to a 49 per cent stake for as much as USD 300 million”, informed a source. “Our goal has always been to make good quality products that are cheap. Right now we don’t produce enough to meet the demand. Sales have been growing at 25 per cent annually and reached Rs ten billion last year. The entire company is worth about Rs 40 billion,” said Virani.