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Parag Milk IPO oversubscribed 1.83 times on final day

12 May 2016 Evaluate

The IPO of dairy firm Parag Milk Foods, which was extended till May 11, was oversubscribed by 1.83 times on the final day of the issue. The Rs 760 crore IPO, which had opened for subscription on May 4, 2016, has received bids for 3,56,91,955 shares against the total issue size of 1,95,06,590.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.15 times while that of non-institutional investors was oversubscribed 3.08 times. The retail investor category was also oversubscribed 2.12 times.

The company, on May 6th, extended its IPO for further three days to May 11 and revised its price band to Rs 215-227 per share. The offer was earlier scheduled to close on May 6th while the price band was previously fixed at Rs 220-227.

The offer comprises fresh issue of shares worth Rs 300 crore and an offer for sale of over 2 crore shares. The company has already finalised allocation of 1,51,03,935 shares to anchor investors at a price of Rs 227 a share aggregating Rs 342.86 crore to anchor investors.

The company is one of the leading manufacturers and marketers of dairy-based branded foods in India. It commenced its business in 1992 with collection and distribution of milk and have now developed into a dairy-based branded consumer products company with an integrated business model, manufacturing a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

Parag Milk Foods Share Price

222.90 -5.30 (-2.32%)
17-Apr-2026 16:59 View Price Chart
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