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Prataap Snacks IPO Oversubscribed 29.64 Times
Prataap Snacks\' initial share sale offer was oversubscribed 29.64 times so far on the last day of offer today. The initial public offer (IPO), which aims to raise Rs. 482 crore, received bids for 10,75,15,275 shares against the total issue size of 36,27,518 shares, data available with the NSE till 1530 hours showed.
Prataap Snacks' initial share sale offer was oversubscribed 29.64 times so far on the last day of offer today. The initial public offer (IPO), which aims to raise Rs. 482 crore, received bids for 10,75,15,275 shares against the total issue size of 36,27,518 shares, data available with the NSE till 1530 hours showed.
Prataap Snacks last week garnered a little over Rs. 143 crore from anchor investors.
The company's Rs. 482-crore issue size includes Rs. 200 crore through fresh equity issue and the rest from sale of 30,05,770 shares.
The issue is in a price band of Rs. 930-938 per share. The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceeds to expand capacity, marketing and brand building activities and retire the debt on its books. Edelweiss, JM Financial and Spark Capital are managing the issue.
