Mumbai, March 29 -- Global private equity firm Advent International is in early discussions to acquire a stake in one of India's largest potato processors, Iscon Balaji Foods (IBF), two people familiar with the matter said.

"The private equity firm is looking to acquire a 25% stake in the company at a valuation of Rs.5,000 crore," one of the people cited above.

"The talks are still premature," the second person said, adding that the company has seen a lot of inbound interest from private equity firms post capital infusion by 360 ONE Asset earlier this year.

The potential deal underscores rising private equity appetite for India's fast-scaling frozen foods and quick-service restaurant (QSR) supply chain ecosystem. IBF operates in the $6...