Prataap Snacks makes robust market debut, ends 26% up

Prataap Snacks listed at Rs 1,270, a 35% premium against its IPO price of Rs 938 per share on the NSE

Shares of Prataap Snacks made a strong debut on the bourses today and ended with nearly 26 per cent gains.

The stock listed at Rs 1,250 on the BSE, reflecting a sharp gain of 33.26 per cent from the issue price of Rs 938. During the day, the stock soared 40.41 per cent to Rs 1,317.05.

It finally ended the day at Rs 1,178.30, up 25.61 per cent.

At NSE, shares of the company settled at Rs 1,180.65, a surge of 25.86 per cent.

Source: Basis of Allotment; Compiled by BS Research Bureau

In terms of equity volume, 17.86 lakh shares of the company were traded on BSE and over 91 lakh shares changed hands at NSE during the day.

The company commands a market valuation of Rs 2,763.47 crore.

The company's Rs 482-crore initial public offer (IPO) was oversubscribed 47.39 times during September 22-26.

The issue was in a price band of Rs 930-938 per share.

The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceeds to expand capacity, for marketing and brand building activities and retire the debt on its books.

Edelweiss, JM Financial and Spark Capital managed the issue.