Private equity (PE) major Peak XV, formerly Sequoia Capital, has exited its 47 per cent stake in snack food company Prataap Snacks by selling it to Authum Investment & Infrastructure and Mahi Madhusudan Kela for ₹847 crore.
According to the share-purchase agreement, the Sanjay Dangi family-led Authum will acquire 10.2 million shares, while Kela will take 1.1 million shares of Indore-based Prataap Snacks, both at ₹746 per share, for a total outgo of ₹846 crore. They will also make an open offer to purchase additional 6.3 million shares at ₹864 apiece for up to ₹544 crore.
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