Nestlé India Limited (BSE:500790), the local unit of the world's largest food company, and other strategic and financial investors are in talks to buy a significant stake in nutritional snacks startup Yoga Bar, at least three people aware of the deal said. Nestle India has done due diligence, and further talks are on, one of the three said, requesting anonymity. Yoga Bar, backed by venture capital funds such as Elevation Capital and Fireside Ventures, is being valued at around INR 4.50 billion - INR 5.00 billion, the second person cited above said.

"The company has also held talks with private equity firms to raise primary capital of around $20-25 million. Discussions are currently on," the person added. Yoga Bar spokesperson termed the development as "inaccurate", an emailed query to Nestle India went unanswered till press time.