Prataap Snacks shares jumped more than 4% in morning trade after Authum Investment and Infrastructure Ltd., along with Mahi Madhusudan Kela signed a share purchase agreement to acquire a controlling stake in the company.
Authum and Mahi Madhusudan Kela will acquire a 46.85% share in Prataap Snacks from its Private Equity promoters, which include Peak XV Partners Growth Investment Holdings I, Peak XV Partners Growth Investment II and Sequoia Capital GFIV Mauritius Investment.
The acquisition of 1.13 crore shares of Prataap Snacks would be ₹846.6 crore, with each share being acquired at ₹746. Authum Investment and Infrastructure will have a 42.31% of Prataap Snacks after the deal is completed, which might take up to six months depending on the completion of conditions precedent.
As of 9:39 am, Prataap Snacks shares were trading 2.87% higher at Rs 1,072.00 on the NSE.
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