Parag Milk Foods IPO subscribed
The initial public offer (IPO) of Parag Milk Foods received bids for a total of 3.54 crore shares on the last day of bidding for the IPO today, 11 May 2016, as per data from the National Stock Exchange (NSE) website at 16:30 IST.The IPO was subscribed 1.82 times.The IPO of Parag Milk Foods was earlier slated to end on 6 May 2016. The company has revised the price band of the issue to Rs215- Rs 227 per share from Rs220-Rs227 per share earlier.
The company raised Rs 342.85 crore by selling 1.51 crore shares to a total of 17 anchor investors ahead of the opening of the IPO.The shares were allotted to the anchor investors at Rs 227 per share, the top end of the Rs 220 to Rs 227 per share price'band for the IPO.
The IPO of Parag Milk Foods, one of the leading manufacturers and marketers of dairy-based branded foodsin India,comprises of fresh issueof equity shares aggregating up to Rs 300 crore and offer for sale of up to 2.05 crore shares from existing shareholders.