Prataap Snacks makes robust market debut, stock jumps over 35 per cent
New Delhi: Shares of Prataap Snacks made a promising debut at the bourses on Thursday, surging over 35 per cent from the issue price of Rs 938.
The stock listed at Rs 1,250, up 33.26 per cent from the issue price on the BSE. Later, the stock zoomed 40.41 per cent to Rs 1,317.05.
At the NSE, it debuted at Rs 1,270, reflecting a sharp jump of 35.39 per cent.
In terms of equity volume, 11.10 lakh shares of the company were traded on the BSE and over 59 lakh shares changed hands at the NSE during the morning trade.
The market valuation of the company stood at Rs 2,774.96 crore.
The company's Rs 482-crore initial public offer (IPO) was oversubscribed 47.39 times during September 22-26. The issue was in a price band of Rs 930-938 per share.
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 managed the issue.
