Promoters of Prataap Snacks sell 5.4 pc stake worth Rs 105 crore

New Delhi, Nov 20 (PTI) Promoters of 'yellow diamond chips' maker Prataap Snacks Ltd on Monday divested a 5.4 per cent stake in the company for Rs 105 crore through open market transactions.

Abu Dhabi-based-Cohesion Investments' affiliate Cohesion MK Best Ideas SUB-TRUST, and Chartered Finance and Leasi NG Ltd were the buyers of the shares.

According to the block deal data available with the BSE, promoters -- Arvind Kumar Mehta, Kanta Mehta, Naveen Kumar Mehta and Arun Kumar Mehta -- sold a total of 13 lakh shares, amounting to a 5.4 per cent stake in Prataap Snacks.

The shares were offloaded at an average price of Rs 805.05 apiece, taking the combined transaction size to Rs 104.65 crore.

After the transaction, the combined shareholding of promoters and promoter group of Prataap Snacks has declined to 64.31 per cent from 69.76 per cent.

Shares of Prataap Snacks rallied 20 per cent to close at Rs 975.75 apiece on the BSE. PTI HG SHW