Prataap Snacks subscribed 35% on Day 1

Topics Prataap Snacks

The Rs 482-crore initial public offering (IPO) of Prataap Snacks garnered 35 per cent subscription on Friday, the first day of the issue. A day earlier, the company had allotted shares worth Rs 143 crore to anchor investors, which included Fidelity Funds, HDFC Mutual Fund and Sundaram Mutual Fund. Prataap Snacks, which sells products under the Yellow Diamond brand name, is one of the leading snack food company in the country.  The company’s IPO comprises of fresh capital raising of Rs 200 crore and an offer for sale of Rs 282 crore. The price band for the IPO is Rs 930 to Rs 938 per share. Prataap Snacks had reported a profit of Rs 10 crore on sales of Rs 904 crore. The IPO closes on Tuesday.

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