Prataap Snacks’ IPO Fully Subscribed On Second Day Of Bidding
Prataap Snacks’ Rs 482-crore IPO was subscribed 2.17 times on the second day of bidding.
Day 2 Subscription
- Overall: 2.17 times
- Qualified institutional buyers: 3.91 times
- High network investors: 0.10 times
- Employees: 0.55 times
- Retail investors: 2.11 times
Prataap Snacks Ltd.’s Rs 482-crore initial public offering was subscribed 2.17 times on the second day of bidding on Monday.
The portion set aside for qualified institutional buyers received the highest demand at 3.91 times the shares on offer, while the high network investors’ segment was subscribed 0.1 times. The employee segment was subscribed 0.55 times and the retail portion was subscribed 2.11 times.
The company raised Rs 143.4 crore from anchor investors on September 21, ahead of the IPO.
Post the initial public offering, private equity investor Sequoia Capital’s stake in the company will decline to 49 percent from 63 percent, Amit Kumat, managing director and chief executive officer of the company, had told BloombergQuint on September 15.
The snacks maker also expects to stabilise its margin of 9-10 percent with sales of around Rs 2,000 crore in the next few years, Kumat told BloombergQuint over phone on September 22.