Prataap Snacks, a popular snack company, is in the spotlight because two investors, Authum Investment & Infrastructure and Mahi Madhusudan Kela, want to buy up to 62.98 lakh shares of the company. This means they’re looking to own 26.01% of Prataap Snacks!
They’re offering a cash price of Rs 865.66 for each share, which includes Rs 864 for the share itself and an additional Rs 1.66 as interest.
Authum Investment is a registered Non-Banking Financial Company (NBFC) that has been around since 1982 and is listed on major stock exchanges in India. Meanwhile, Mahi Madhusudan Kela is the wife of a very famous and successful investor, Madhusudan Kela.
This offer is open for public shareholders under a rule by the Securities and Exchange Board of India (SEBI). However, if too many shares are offered by the public, only some will be accepted, so not everyone may get their shares sold.
The proposed purchase got the green light from the Competition Commission of India (CCI) back in December.
Stock Watch for Prataap Snacks!
The current average target price for Prataap Snacks shares is Rs 1,033. This shows a potential drop of 12% from the recent price. Despite this, analysts recommend buying the stock, believing it has potential.
Recent Stock Performance
On Wednesday, Prataap Snacks shares closed at Rs 1,175.6, marking a 2.1% increase despite a small drop in the overall market. Over the past six months, the stock has risen 32%, and in the last two years, it’s up by 41%. The total value of the company is about Rs 32,265 crore.
(Remember: Opinions from experts are their own and do not reflect those of this article’s source.)
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