The Competition Commission of India (CCI) cleared Authum Investment & Infrastructure and investor Mahi Madhusudan Kela’s proposal to acquire Prataap Snacks Ltd.
Indore-based Prataap Snacks is a snack maker, sells chips, nuts and crisps under the ‘Diamond’ brand.
The company operates 15 manufacturing facilities and partners with more than 5,200 super or sub-distributors, which helps it reach over 2.5 million touchpoints in India.
“CCI approves the proposed combination involving the acquisition of 72.8 per cent voting share capital in Prataap Snacks Ltd by Authum Investment & Infrastructure Ltd and Mahi Madhusudan Kela,” the regulator said in a post on X. Madhuri Madhusudan Kela is the wife of renowned investor Madhusudan Kela.
Alpana Sanjay Dangi’s Authum Investment & Infrastructure Ltd is a registered NBFC carrying out the business of investment in shares and securities and also financing activities to achieve the goal of enhancing the value for its stakeholders.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices and promotes fair competition in the marketplace.
