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Shares of Prataap Snacks Restricted (PSL) surged 11 per cent on Thursday after a information report claimed that snacks majpr Haldiram’s is in talks to amass a majority stake within the firm behind ‘Yellow Diamond Chips’. With the acquistion, Haldiram’s is eyeing to broaden its presence within the potato chip market, Reuters mentioned quoting two sources. Prataap Snacks, which is predicated in Indore, is at present valued at $350 million.
Haldiram’s is eyeing a majority stake of a minimum of 51 per cent, however a closing quantity has not been determined. The talks are at an early stage and the deal valuation has not been mentioned, the report mentioned.
Final month, information stories had mentioned that the deal is being led by enterprise capital agency Peak XV Companions, previously Sequoia Capital India, which is a part of the promoter group and owns near 47 per cent of the corporate.
PSL has a community of greater than 5,000 distributors and sub distributors and is obvious competitor of Pepsi’s Lay’s model.
Shares of Prataap Snacks closed at Rs 1,371.45 , up by 10.73 per cent.
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