In a significant development, Authum Investment & Infrastructure Limited, along with investor Mahi Madhusudan Kela, is set to acquire a major stake in Prataap Snacks Ltd, the company behind the popular Yellow Diamond snack brand. The total deal value stands at ₹846.60 crore, as per the company’s filing with the Bombay Stock Exchange (BSE) on Friday, September 27.
Prataap Snacks has entered into a share purchase agreement with its private equity promoters, including Peak XV Partners Growth Investments I, Peak XV Partners Growth Investment Holdings II, and Sequoia Capital GFIV Mauritius Investments. Under the agreement, Authum and Kela will acquire a 46.85% stake, which translates to approximately 1.02 crore equity shares of the company at ₹746 per share.
“The acquirers have agreed to purchase the shares for an aggregate consideration of ₹846.60 crore,” the company stated in its official exchange filing.
Additionally, the acquiring entities have launched an open offer to acquire a further 26% stake in the company from the public market. This offer represents an additional 62.98 lakh equity shares at ₹864 per share, totaling ₹544 crore, according to the filing.
Prataap Snacks, headquartered in Indore, manufactures and markets a range of snack products including chips, nuts, and crisps under the Yellow Diamond brand. This acquisition marks a strategic move for Authum and Mahi Kela in the fast-growing Indian packaged snacks industry.