Prataap Snacks drops 3% after a day of strong listing gains
At present, the domestic organised snacks market is estimated at Rs 22,000 crore.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Prataap Snacks declined 3 per cent in Friday's trade on profit booking after the scrip saw a 28-per cent listing gains in the previous session.
The stock fell 3.15 per cent to hit a low of Rs 1141.10 on BSE.
The Rs 482-crore initial public offer ( IPO), which was sold during September 22-26, had received good response, with investors bidding for 47.39 times the issue size. The quota limit for qualified institutional buyers (QIBs) was subscribed 76.89 times, non-institutional investors (NIIs) 101.15 times and retail investors 8.48 times.
The company makes products under the ‘Yellow Diamond’ brand. It intends to use the IPO proceeds to expand capacity, marketing and brand building activities and retire the debt on its books. Data showed Prataap Snacks has seen its revenue growing at a compounded annual growth rate of 27.34 per cent over FY13-17. The company's share in the overall organised snacks market grew to 4 per cent in 2016 from 1 per cent in 2010.
At present, the domestic organised snacks market is estimated at Rs 22,000 crore. It is estimated to grow at 14.6 per cent CAGR, over 2016-21.
The stock fell 3.15 per cent to hit a low of Rs 1141.10 on BSE.
The Rs 482-crore initial public offer ( IPO), which was sold during September 22-26, had received good response, with investors bidding for 47.39 times the issue size. The quota limit for qualified institutional buyers (QIBs) was subscribed 76.89 times, non-institutional investors (NIIs) 101.15 times and retail investors 8.48 times.
The company makes products under the ‘Yellow Diamond’ brand. It intends to use the IPO proceeds to expand capacity, marketing and brand building activities and retire the debt on its books. Data showed Prataap Snacks has seen its revenue growing at a compounded annual growth rate of 27.34 per cent over FY13-17. The company's share in the overall organised snacks market grew to 4 per cent in 2016 from 1 per cent in 2010.
At present, the domestic organised snacks market is estimated at Rs 22,000 crore. It is estimated to grow at 14.6 per cent CAGR, over 2016-21.
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