Prataap Snacks IPO subscribed 43% on Day 1

Prataap Snacks' initial share- sale offer was subscribed 43 per cent on the first day of the three-day bidding today.
The initial public offer (IPO), which aims to raise Rs 482 crore, received bids for 15,42,180 shares against the total issue size of 36,27,518 shares, as per data available with the NSE.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 99 per cent, non institutional investors 2 per cent and retail investors 28 per cent.
Prataap Snacks yesterday garnered a little over Rs 143 crore from anchor investors.
The company's Rs 482-crore issue size includes Rs 200 crore through fresh equity issue and the rest from sale of 30,05,770 scrips.

The issue, with a price band of Rs 930-938 per equity share, will close for subscription on September 26.
The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceeds to expand the capacity, marketing and brand building activities and to retire the debt on its books.
Edelweiss, JM Financial and Spark Capital are managing the issue.