Prataap Snacks IPO oversubscribed 4.22 times on final day; QIB, retail lend support
Prataap Snacks aims to raise Rs 481.94 crore through the issue, at higher end of price band of Rs 930-938 per share.
Moneycontrol News
Prataap Snacks' Rs 482-crore initial share sale offer has received good response from investors, oversubscribing 4.22 times on the final day.
The initial public offer (IPO) has received bids for 1.53 crore equity shares against the total issue size of 36,27,518 shares, excluding anchor investors' portion.
The portion set aside for qualified institutional buyers (QIBs) has oversubscribed 6.29 times while the reserved portion of non institutional investors has seen subscription of 27 percent and retail investors 4.83 times.
Before the issue opened for subscription, Prataap Snacks garnered Rs 143 crore from anchor investors.
The IPO, which was opened on September 22, comprises a fresh issue of Rs 200 crore and the offer for sale of 30,05,770 equity shares.
Prataap Snacks aims to raise Rs 481.94 crore through the issue, at higher end of price band of Rs 930-938 per share.
The company, which makes products under the 'Yellow Diamond' brand, will use fresh issue proceeds towards expansion of capacity, marketing and brand building activities, and repayment of debt.
Edelweiss, JM Financial and Spark Capital are book running lead managers to the issue.
