India's Prataap Snacks rises on report large shareholders in talks to sell stake

Prataap Snacks

18/12/2023 08:21

** Shares of Prataap Snacks  PRAT.NS  up 2% at 1,018.80
rupees     
    ** PRAT had risen as much as 5.7% earlier in the session; on
track to snap two straight sessions of losses, if gains hold    
    ** Co's promoters or large shareholders who can influence
company policy are in talks to sell a controlling stake in PRAT
- business news portal Moneycontrol reports
    ** Talks being led by Sequoia capital, which is part of the
promoter group, and holds about 47% stake in PRAT - report 
    ** In the talks, which are at early trade, a number of
private equity funds and large fast moving consumer goods (FMCG)
companies have been approached - report 
    ** PRAT up 12.7% YTD vs 22% gain in the Nifty FMCG index
 .NIFTYFMCG  
    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))