BAJAJ BROKING
The Competition Commission of India approved the acquisition of 72.8% stake in Prataap Snacks Ltd by Authum Investment and Mahi Madhusudan Kela. Prataap Snacks share price closed 3.28% higher post-announcement.
The Competition Commission of India (CCI) has approved the acquisition of a 72.8% stake in Prataap Snacks Ltd by Authum Investment & Infrastructure Ltd and Mahi Madhusudan Kela. This acquisition marks a significant shift in ownership for the snack brand Diamond. The transaction also includes a public open offer for 26.38% of Prataap Snacks' equity from shareholders.
Also read: Transformer & Rectifier to Consider Bonus Issue on 8 January
Acquisition Stake: 72.8% voting share capital.
Entities Involved: Authum Investment and Mahi Madhusudan Kela.
Public Offer: 26.38% equity representing 62.98 lakh shares.
Prataap Snacks Share Price: Closed 3.28% higher at Rs 1,134.7.
Also read: Piramal Enterprises Invests ₹1,000 Crore in Piramal Capital via Rights Issue
Authum Investment and Mahi Madhusudan Kela, the key acquirers, take control of the majority stake from Peak XV Partners (formerly Sequoia Capital), which exited its 47% holding in September. The approval by the antitrust watchdog enables the completion of the merger process.
Aspect | Details |
Stake Acquired | 72.8% |
Public Offer Shares | 62.98 lakh |
Public Offer Stake | 26.38% |
Face Value Per Share | Rs 5 |
The open offer follows regulatory norms, ensuring public shareholder participation in the transaction.
Prataap Snacks share price reacted positively to the news, closing 3.28% higher at Rs 1,134.7 on the BSE, outperforming the flat Nifty 50 index. Year-to-date, the stock has risen nearly 2%.
The CCI’s clearance of the 72.8% stake acquisition in Prataap Snacks by Authum Investment and Mahi Madhusudan Kela paves the way for a significant change in ownership structure. The approval highlights compliance with regulatory frameworks, while Prataap Snacks share price reflects positive investor sentiment following the announcement.
Also read: Kalpataru Projects Secures ₹1,011-Crore Orders Across Key Sectors
Do you have a trading account app or demat account app?
You can open an account with Bajaj Broking in minutes.
Download the Bajaj Broking app now from Play Store or App Store.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Gold Price in India | Gold Rises 1.2% to $2,671.50; Silver Gains 2.6%
03 Jan, 2025 | 40 Min. read
Avenue Supermarts Reports 17.5% Revenue Growth in Q3 FY25
03 Jan, 2025 | 2 Min. read
What’s the Minimum Amount for Mutual Fund Investments?
03 Jan, 2025 | 6 Min. read
Biocon Gets China NMPA Approval for Tacrolimus Capsules
03 Jan, 2025 | 2 Min. read
Wockhardt’s Miqnaf Gains CDSCO Approval for CABP Treatment
03 Jan, 2025 | 2 Min. read
IRFC Partners REMCL to Fund Renewable Energy for Railways
03 Jan, 2025 | 2 Min. read
Understanding No-Load Mutual Funds: Benefits & How They Work
03 Jan, 2025 | 6 Min. read
AMFI - Know About The Association of Mutual Funds in India
03 Jan, 2025 | 6 Min. read
Understanding No-Load Mutual Funds: Benefits & How They Work
03 Jan, 2025 | 5 Min. read
What are Alpha and Beta in Mutual Funds
03 Jan, 2025 | 5 Min. read
Information Ratio (IR) in Mutual Funds | Bajaj Broking
03 Jan, 2025 | 4 Min. read
Fund of Funds: Types and Benefits Explained
03 Jan, 2025 | 4 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading