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Sep 22, 2017 08:16 AM IST | Source: PTI

Prataap Snacks raises Rs 143 cr from anchor investors

The shares would be alloted to 15 anchor investors at Rs 938, which is the upper end of the price band, the company informed to the stock exchanges.

Prataap Snacks raises Rs 143 cr from anchor investors

Prataap Snacks said it has garnered a little over Rs 143 crore from anchor investors, ahead of its initial share-sale offering, which opens today.

The shares would be alloted to 15 anchor investors at Rs 938, which is the upper end of the price band, the company informed to the stock exchanges.

Goldman Sachs India Ltd, Fidelity Funds, Smallcap World Fund Inc and HDFC Trustee Company are among the anchor investors.

Prataap Snacks would allot a total of 15,28,789 shares to anchor investors garnering Rs 143.4 crore.

The company's Rs 482-crore issue size includes Rs 200 crore through fresh equity issue and the rest from the offer for sale of 30,05,770 scrips.

The issue, with a price band of Rs 930-Rs 938 per equity share, will be open for public subscription during September 22-26. It will also offer a discount of Rs 90 per share to eligible employees of the company.

The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceedings to expand the capacity of chips by 50 per cent and double that of namkeen, marketing and brand building activities and to retire the debt on its books.

Edelweiss, JM Financial and Spark Capital are managing the issue.
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