Indore-based Prataap Snacks ( established in 2009) ,owner of the brand: Yellow Diamond Chips is coming out with IPO to raise Rs.250 crores by issuing new shares while existing investors will sell 2,982,000 shares through the proposed IPO. 2,226,000 shares will be offered by two Sequoia group companies.
The company promoted by brothers Amit Kumat , Apurva Kumat, and Arvind Mehta in 2003 is primarily into potato-based snacks, extruded snacks and namkeen. Despite operating in the same industry, Prataap Snacks does not directly compete with big players like Frito Lays or Parle. It focuses on underserved smaller markets.
The Company has pan-India distribution network of included 205 super stockists and over 3,400 distributors & is supported by strategically located manufacturing facilities. The company owns and operates three manufacturing plants , one located at Indore and the other two located at Guwahati, in Assam.
Prataap Snacks Limited IPO Stock Quote & Charts
- Open: 1063.95
- High - Low: 1066.90 - 1020.00
- Previous Close: 1070.30
- Total Traded Volume: 9892
- Updated On: 24-Sep-2018
Objects of the Prataap Snacks Limited IPO:
1. Offer for Sale
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.
2. Fresh Issue
Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
A. Repayment/pre-payment, in full or part, of certain borrowings availed by the Company;
B. Funding capital expenditure requirements in relation to expansion and modernisation at certain of our existing manufacturing facilities;
C. Investment in its Subsidiary, Pure N Sure, towards enabling the repayment/pre-payment of certain borrowings availed of by our Subsidiary;
D. Marketing and brand-building activities; and
E. General corporate purposes.
Prataap Snacks Limited IPO Details:
||Sep 22 2017
||Sep 26 2017
|| ₹ 5 Per Equity Share
||Book Built Issue
|| ₹ 930-938 Per Equity Share
||Oct 05 2017
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