Prataap Snacks share price: Snack major Haldiram’s is in talks to acquire majority stake in Prataap Snacks and the talks are at an early stage and a valuation has not been discussed, though it could be at a premium to the latter’s share price, Reuters reported. Haldiram’s is considering a majority stake of at least 51 per cent.
Yellow Diamond chips in Haldiram’s basket? Prataap Snacks stock SLIPS 10% day after hitting 52-week high – 60% up in 6 months
Prataap Snacks share price: Shares of packaged foods company Prataap Snacks tanked around 10 per cent on Friday, the day after touching their 52-week high value of Rs 1450 on BSE. The stock sank after it emerged that snacks major Haldiram’s is in talks to acquire a majority stake in the rival firm.
Haldiram’s, a family-run business founded in 1937, is eyeing a majority stake in the Yellow Diamond chips maker which is valued at $350 million, news agency Reuters reported quoting two people with direct knowledge of the matter.
Prataap Snacks Share Price
After the acquisition news, shares of the packaged foods company declined around 10 per cent and touched an intraday low of Rs 1245.70 apiece on BSE. The stock touched its 52-week high value of Rs 1450 on Wednesday. Shares of the Yellow Diamond chips maker have jumped 32 per cent in the last one month.
According to BSE analytics, the stock has gained 51 per cent in the last three months while risen 60 per cent in the last six months. Prataap Snacks shares have delivered over 90 per cent in the last 3 years.
Haldiram’s-Prataap Snacks Deal
The talks to acquire majority stake in Prataap Snacks are at an early stage and a valuation has not been discussed, though it could be at a premium to the latter’s share price, the Reuters report added. Haldiram’s is considering a majority stake of at least 51 per cent, but a final number has not been decided.
Prataap is best known for its Yellow Diamond brand of chips and competes with Pepsi’s, opens new tab Lay’s brand and other snack-makers in a market where local, unorganised food sellers still dominate the fried chips segment.
Venture capital firm Peak XV Partners, formerly known as Sequoia Capital India, owns around 47 per cent of Prataap Snacks and is looking to fully exit its stake in Prataap, the sources added.
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