A major acquisition deal involving Prataap Snacks worth ₹846.6 crore is set to shift market dynamics.
Authum Investment and Mahi Madhusudan Kela are acquiring a 46.85% stake in Prataap Snacks from Sequoia and Peak XV Partners.
1.13 crore shares are being bought at ₹746 each, totaling ₹846.6 crore for this acquisition of Prataap Snacks.
After the acquisition, Authum will hold a 42.31% stake, leading to a mandatory open offer for 26% more shares.
The open offer is for an additional 26% stake at ₹864 per share, worth ₹544.17 crore, per SEBI regulations.
Despite a recent 20% surge, Prataap Snacks has underperformed in 2024, with its stock down 4.5% this year.