Cyril Amarchand Mangaldas (CAM) advised selling shareholders, including Peak XV Partners Growth Investment Holdings I and Peak XV Partners Growth Investments II in relation to the proposed sale of 46.85% stake in Prataap Snacks Limited to Authum Investment & Infrastructure Limited and Ms. Mahi Madhusudan Kela.

The execution of the SPA has also triggered an obligation on the Purchasers to make an open offer to the public shareholders of the Target Company under Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The transaction was undertaken under the overall guidance of Cyril Shroff, Managing Partner. The transaction team was led by Ramgovind Kuruppath, Partner;  with support from Megha Krishnamurthi, Principal Associate; Nikita Singhi, Senior Associate; and Bharat Harne, Associate.

The transaction document was signed on 26th September 2024. The closing is subject to completion of the conditions set out in the share purchase agreement, including regulatory approvals, if applicable