Anubhav Sahu & Himadri Buch
Moneycontrol News
The initial public offer of Prataap Snacks Ltd, the maker of Yellow Diamond Chips, is likely to hit the capital market by December, said Amit Kumar, Chief Executive Officer and Managing Director, Prataap Snacks.
The company had received capital market regulator’s approval for the IPO in April.
The Indore-based company, which filed its draft red herring prospectus last October, plans to raise Rs 250 crore through a fresh issue of shares and an offer for sale of 2.2 million by Sequoia Capital and 0.75 million shares by the promoters. The company clarified that Sequoia Capital would continue to remain a major shareholder post the IPO.
Edelweiss, JM Financial and Spark Capital are managing the issue.
The total…