Prataap Snacks makes robust mkt debut, stock jumps over 35%

Shares of Prataap Snacks made a

promising debut at the bourses today, 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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)