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Prataap Snacks IPO subscribed 29.64 times on last day

LiveMint logoLiveMint 26-09-2017 PTI

New Delhi: Prataap Snacks Ltd’s initial public offering was subscribed 29.64 times so far on the last day on Tuesday.

At 3.30pm, the Rs482 crore IPO received bids for 10,75,15,275 shares against the total issue size of 36,27,518 shares, according to data available with the National Stock Exchange.

Prataap Snacks last week garnered a little over Rs143 crore from anchor investors. The company’s initial share sale offer includes Rs200 crore through fresh equity issue and the rest from sale of 30,05,770 shares.

The IPO has a price band of Rs 930-938 per share. The company, which makes products under the ‘Yellow Diamond’ brand, aims to use the proceeds to expand capacity, marketing and brand building activities and retire the debt on its books.

Edelweiss, JM Financial and Spark Capital are managing the issue.

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