Authum, Mahi Kela to acquire 46.85% stake in Prataap Snacks for Rs 846.6 cr

Authum Investment & Infrastructure, along with Mahi Madhusudan Kela, will acquire a 46.85 per cent stake in Prataap Snacks, the Indore-based packaged foods company that owns the snack brand Yellow Diamond and sweet snacks brand Rich Feast, in a deal valued at Rs 846.60 crore.

They have entered into a share purchase agreement on Thursday to acquire the entire 46.85 per cent shareholding, which is around 1.02 crore equity shares, from its three Private Equity promoters, according to an early morning filing by Prataap Snacks.

The three Private Equity promoters -- Peak XV Partners Growth Investments I, Peak XV Partners Growth Investment Holdings II and Sequoia Capital GFIV Mauritius Investments hold stakes of 2.48 per cent, 34.65 per cent, and 9.72 per cent, respectively.

"The acquirer and PAC (Persons Acting in Concert) have entered into a share purchase agreement dated September 26, 2024, with the sellers, pursuant to which the acquirer has agreed to acquire from the sellers 1.02 ..