The initial public offering (IPO) of Prataap Snacks was subscribed 47.23 times on Tuesday, the final day of the offering, with investors bidding for 17.13 crore shares of the 36.27 lakh shares on offer. The qualified institutional buyers bid for 7.90 crore shares on the third day of the IPO. High net-worth individuals bid for 7.75 crore shares, retail investors bid for 1.46 crore shares, and employees bid for 60,765 shares out of the 42,000 shares reserved for them. On September 21, Prataap Snacks allotted equity shares worth Rs 143.4 crore at Rs 938 to 15 anchor investors. Fidelity Funds, Goldman Sachs India, HDFC Trustee Company, SBI FMCG Fund, ICICI Prudential Value Fund Series, HDFC Standard Life Insurance, DSP BlackRock Equity Savings Fund and SBI Life Insurance are among the anchor investors.
Prataap Snacks, which manufactures snacks under the Yellow Diamond brand, is planning to raise around Rs 481.94 crore from the IPO. The Rs 481.94-crore issue size includes Rs 200 crore through fresh equity issue and the rest Rs 281.94 crore from the offer for sale. The company has set a price band of Rs 930-938 per share for its IPO. When calculated at the upper band of the issue price, the company will be valued at around Rs 2,199.89 crore. The Sequoia Capital-backed company, which made revenue of Rs 903 crore last fiscal, also plans to enter the sweet snacks category.