Indore, Madhya Pradesh-based Pratap Snacks has become an associate company of Authum Investment & Infrastructure Limited (AIIL) after the latter acquired a 42.33% stake in the snacks maker.
The acquisition, valued at approximately Rs 764.55 crore, was executed through a combination of open market purchases and a share purchase agreement (SPA), as disclosed in a regulatory filing to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Authum in a regulatory filing on Wednesday informed that it acquired 127 equity shares of PSL through an open offer at Rs 865.66 per share, totalling Rs 1,09,939.
Earlier, Authum had acquired 1,02,48,582 shares were purchased under the SPA at Rs 746 per share, amounting to Rs 764.54 crore.
Authum Investment & Infrastructure, a Mumbai-based investment firm, had initially announced its intention to acquire PSL in September 2024. The deal, which required regulatory approvals, including clearance from the Competition Commission of India (CCI), was finalized on 25 February 2025. The acquisition includes 1,02,48,709 equity shares of PSL, making it an associate company of Authum.
Pratap Snacks, headquartered in Indore, Madhya Pradesh, is a prominent player in India’s snack food industry, manufacturing and marketing products such as potato chips, extruded snacks, and namkeen. The company, incorporated in 2009, has shown consistent growth, with a turnover of Rs 1,617.93 crore in FY 2023-24 and a net worth of Rs 728.75 crore as of March 31, 2024.
The acquisition aligns with Authum’s long-term strategy to invest in sectors with high growth potential. In a statement, Authum highlighted that the move is aimed at “nurturing and expanding” PSL’s business to maximize value creation for stakeholders. The snack food industry in India, driven by changing consumer preferences and increasing disposable incomes, offers significant growth opportunities.
The deal received approval from the Competition Commission of India (CCI) on December 31, 2024, under Section 31(1) of the Competition Act, 2002. All conditions precedent under the SPA, including payment of consideration to shareholders, have been fulfilled.