Authum Investment to Acquire Major Stake in Prataap Snacks for Rs 846.60 Crore

Authum Investment & Infrastructure and Mahi Madhusudan Kela will acquire a 46.85% stake in Prataap Snacks for Rs 846.60 crore. This deal involves the purchase of shares from three Private Equity promoters and an additional open offer for a 26% market share. Prataap Snacks will remain a listed entity.

Authum Investment & Infrastructure, in collaboration with Mahi Madhusudan Kela, is set to acquire a 46.85% stake in Prataap Snacks, the Indore-based packaged foods company, for a sum of Rs 846.60 crore.

The acquisition will involve the purchase of around 1.02 crore equity shares from three Private Equity promoters who currently hold substantial stakes in the company.

An open offer has also been announced to acquire a further 26% market share, ensuring that Prataap Snacks remains a publicly listed entity despite the change in control.

(With inputs from agencies.)