Liquidity Events
Authum, Madhusudan Kela family family buy 46.85% stake in Prataap Snacks for Rs.847-Cr; Peak XV exit
Authum Investment and Mahi Madhusudan Kela have acquired a 46.85% stake in publicly-listed, Indore-based Prataap Snacks for INR 846.60 crore. The acquirers will now make an open offer for the acquisition of an additional 26% Prataap Snacks Ltd .The initial stake has been acquired from the units of Venture Capital firm, including Peak XV Partners Growth Investment Holdings I, Peak XV Partners Growth Investment II and Sequoia Capital GFIV Mauritius Investments.The open offer seeks to purchase 62.98 lakh fully paid-up equity shares, each with a face value of INR 5, from the company’s public shareholders. The open offer price is INR 1,042.10 per share.
Between May 2011 and Jun 2016, Prataap Snacks had raised over USD 61.29 M from Faering Capital and Peak XV Partners.
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