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    Thursday , May 12, 2016

   Parag Milk Foods' IPO oversubscribed 1.85 times on last day

   Publication: The Financial Express , Agency:PTI
   Edition: Delhi/Kolkata/Bangalore/Chandigarh/Pune/Ahmedabad/Hyderabad/Chennai/Mumbai , Page No: 11 , Location: Middle-Left , Size(sq.cms): 128
  

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N-NArendra 12.05 - 0089.htm
Parag Milk Foods' IPO oversubscribed 1.85 times on last day
N-NArendra 12.05 - 0089-1.jpg
Mumbai, May 11: Parag Milk Foods' initial public of­fering (IPO), which was ex­tended by three days, was oversubscribed 1.85 times, with qualified institutional investors quota receiving full subscription on the final day of the offer on Wednesday.
The Rs 760-crore IPO, which had opened for subscription on Wednesday, received bids for 3,56,91,955 shares against the total issue size of 1,95,06,590 shares, as per data available with the NSE till 1800 hrs.
The qualified institutional buyers (QIB) portion was over­subscribed 1.15 times, while non-institutional category was also oversubscribed 3.08 times, according to a company release. Retail portion was oversubscribed2.12 times. The issue was fully subscribed at the upper end of the price band — Rs 227 per share, it said. "We are happy to announce that the public issue process has been successfully completed with over subscription in all in­vestor categories. During the
extended period up to May 11, the public issue witnessed ad­ditional participation from QIBs and investors in other cat­egories who could not invest earlier due to regional holi­days in Asia," chairman De-vendra Shah said.
Parag Milk Foods on Friday extended its IPO for further three days till Wednesday and revised its price band to Rs 215-227 per share. The offer was earlier scheduled to close on Friday 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 book running lead managers to the issue are Ko-tak Mahindra Capital Compa­ny JM Financial Institutional Securities, IDFC Securities and Motilal Oswal Investment Advisors Private.            PTI
 
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Parag Milk Foods' IPO oversubscribed 1.85 times on last day
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Date: Thursday , May 12, 2016
Publication: The Financial Express, Agency: PTI
Edition: Delhi/Kolkata/Bangalore/Chandigarh/Pune/Ahmedabad/Hyderabad/Chennai/Mumbai, Page No: 11, Location: Middle-Left, Size(sq.cms): 128