Prataap Snacks' IPO to raise up to Rs 480 crore ($73.85 million) got fully subscribed at 1.08 times on the second day of the three-day bidding process on Monday.
The initial public offer (IPO), which aims to raise Rs 482 crore, received bids for 39,14,325 shares against the total issue size of 36,27,518, data available with the NSE till 2.45 pm showed.
Prataap Snacks had last week 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 shares. The issue, with a price band of Rs 930-938 per share, will close for subscription on Tuesday.
The company, which makes products under the ‘Yellow Diamond’ brand, aims to use the proceeds to expand capacity, marketing and brand building activities and retire the debt on its books.
Edelweiss, JM Financial and Spark Capital are the lead managers for the issue.