ITC may munch on Peak XV’s 47% stake in Prataap Snacks

Buyout funds KKR, TA Associates and Apax are among others that have been tapped since Peak XV initiated a plan to fully exit its nearly 13-year-old investment in Prataap and hired Deutsche Bank to sell the company. The transaction if successful will trigger an open offer for an additional 26% of the Indore-based company, which has been a laggard ever since its stock market debut in 2017 when it listed at a 33% premium. Prataap ended 1% down at ₹1,174.45 for a market value of ₹2,802.19 crore on Wednesday.

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