Prataap Snacks Limited — Important, 28-11-2024: Updates

Prataap Snacks Limited has shared the recommendations from its Committee of Independent Directors (IDC) regarding an open offer from Authum Investment & Infrastructure Limited and Ms. Mahi Madhusudan Kela to acquire up to 62,98,351 fully paid-up equity shares at ₹864 each, representing 26.01% of the voting share capital. The IDC believes the offer is fair and reasonable, supported by an independent valuation and is higher than the average market price of the shares in the preceding 60 trading days. The closing market price on NSE prior to this recommendation was ₹1,055.35. Shareholders are encouraged to independently evaluate the offer before making decisions. No complaints related to the open offer process have been received.

The recommendations were unanimously approved during the IDC meeting. For further information, the official channels can be contacted.