13 hours Ago
Packaged snack maker Prataap Snacks shares will remain in focus on Thursday following an open offer from Authum Investment & Infrastructure and Mahi Madhusudan Kela to acquire up to 62.98 lakh equity shares, representing a 26.01% stake in the company, at Rs 865.
66 per share. The cash offer includes a price of Rs 864 per equity share, along with an interest component of Rs 1.66 per equity share.
Authum Investment & Infrastructure, which was incorporated in 1982 is a registered NBFC and is listed on the BSE and NSE. Company's market capitalisation is at Rs 32,265 crore. Meanwhile, Mahi Madhusudan Kela is the wife of ace investor Madhusudan Kela.
The offer is an open offer under SEBI 's SAST Regulations to acquire equity shares of the total Voting Share Capital from the public shareholders. "If the number of Equity Shares validly tendered by the Public Shareholders under this Offer is more than the Offer Size, then the Offer Shares validly tendered by the Public Shareholders will be accepted on a proportionate basis, subject to acquisition of a maximum of 62,98,351 Equity Shares, representing 26.01% of the Voting Share Capital.
Accordingly, there is no assurance that all the Equity Shares tendered by the Public Shareholders (as defined below) in the Offer will be accepted," the company filing said. Stock Trading Masterclass on Value Investing and Company Valuation View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.
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The consensus recommendation from two analysts for the stock is a 'Buy'. Also Read: 3 months of weakness: Can Q3 earnings revive auto stocks? Prataap Snacks shares performance On Wednesday, Prataap Snacks shares closed at Rs 1,175.6, up 2.
1% on the BSE, while the benchmark Sensex declined 0.06%. The stock has surged 32% over the past six months and 41% in the last two years.
The company’s market capitalization stands at Rs 2,806 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
