Indore-headquartered Prataap Snacks, which sells potato chips and a variety of spicy savouries under the brand name Yellow Diamond, plans to raise ₹482 crore through issue of fresh shares and offer-for-sale by existing investors.
The initial public offering will be open for subscription between September 22 and 26. The price band has been fixed at ₹930-938 a share. Bids can be made for a minimum of 15 equity shares.
The company will issue fresh equity shares of up to ₹200 crore while the existing investor will sell 30.05 lakh equity shares including 3.69 lakh equity shares by Sequoia Capital GFIV Mauritius Investment and 94,266 equity shares by Sequoia Capital India Growth Investment Holdings I, 13.17 lakh shares by SCI Growth Investments II, 1.83 lakh shares by Arvind Mehta, 1.39 lakh shares by Naveen Mehta and 1.39 lakh shares by Arun Mehta, among others.
The issue includes a reservation of up to 42,000 to eligible employees at a discount of ₹90 per share to the issue price.