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    Tuesday , May 10, 2016

   Parag IPO receives bids for 2.56 cr shares on day 4

   Publication: The Financial Express , Agency:Bureau
   Edition: Delhi/Kolkata/Bangalore/Chandigarh/Pune/Ahmedabad/Hyderabad/Chennai/Mumbai , Page No: 11 , Location: Middle-Right , Size(sq.cms): 96
  

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Parag IPO receives bids for 2.56 cr shares on day 4
fe Bureau
Mumbai, May 9: The intial pub­lic offering (IPO) of Parag Milk Foods, which was extended for three days with a revised price band of Rs 215-227, received bids for 2.56 crore shares of the total 1.95 crore shares on Monday
The quota for qualified insti­tutional buyers (QIBs), which had failed to get fully subscribed as required by the rules for an IPO, was bid for 53 % or 57 lakh shares of the 103 lakh shares re­served for them, data from the stock exchanges showed.
The retail book was sub-scribed l.77 times while the high net-worth individuals bidforthe issue nearly 2.63 times. The em­ployees quota saw bids coming infor 29 lakh shares of the 3 lakh shares reserved. The extended issue will closeonMay 11.
The firm's Rs 766 crore IPO in­cludes a fresh issue of shares
The retail book was subscribed 1.77 times while the high net-worth individuals bid for the issue nearly 2.63 times
worth Rs 300 crore and an offer for sale worth Rs 466 crore. It plans to use the proceeds of the offer for expansion and moder nisation of its dairy farms, partial repay-ment of debtand for general cor­porate purposes. Parag Milk Foods reported a net profit of Rs 32 crore in the nine months to December 2015 while the Ebitda stood at Rs 108 crore; at the end of December, the total debt was Rs 363 crore. The book running lead managers to the issue are Kotak Mahindra Capital, JM Fi­nancial Securities, IDFC Secu­rities and Motilal Oswal Invest­ment Advisors.
 
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Parag IPO receives bids for 2.56 cr shares on day 4
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Date: Tuesday , May 10, 2016
Publication: The Financial Express, Agency: Bureau
Edition: Delhi/Kolkata/Bangalore/Chandigarh/Pune/Ahmedabad/Hyderabad/Chennai/Mumbai, Page No: 11, Location: Middle-Right, Size(sq.cms): 96