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Parag Milk IPO is a book built issue of Rs 751.78 crores. The issue comprises of fresh issue of Rs 325.00 crore and offer for sale of 1.98 crore shares.
Parag Milk IPO bidding started from May 4, 2016 and ended on May 11, 2016. The shares got listed on BSE, NSE on May 19, 2016.
Parag Milk IPO price band is set at ₹215 to ₹227 per share. The minimum lot size for an application is 65 Shares. The minimum amount of investment required by retail investors is ₹14,755.
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Jm Financial Limited, Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers of the Parag Milk IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Parag Milk IPO RHP for detailed information.
| IPO Date | May 4, 2016 to May 11, 2016 |
| Listing Date | May 19, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹215 to ₹227 per share |
| Lot Size | 65 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹751.78 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹325.00 Cr) |
| Offer for Sale | 19,850,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 70,415,887 |
| Share holding post issue | 84,114,891 |
Parag Milk IPO offers 19,185,714 shares. 10,388,303 (54.15%) to QIB, 5,098,447 (26.57%) to NII, 3,398,964 (17.72%) to RII, 300,000 (1.56%) to employees. 52,291 RIIs will receive minimum 65 shares and (sNII) and (bNII) will receive minimum 910 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 10,388,303 (54.15%) | NA |
| NII (HNI) Shares Offered | 5,098,447 (26.57%) | |
| Retail Shares Offered | 3,398,964 (17.72%) | 52,291 |
| Employee Shares Offered | 300,000 (1.56%) | NA |
| Total Shares Offered | 19,185,714 (100%) |
Investors can bid for a minimum of 65 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,755 |
| Retail (Max) | 13 | 845 | ₹191,815 |
| Lot Size Calculator | |||
The Promoters of the company are:
1. Mr Devendra Shah
2. Mr Pritam Shah and
3. Parag Shah
| Share Holding Pre Issue | 61.13% |
| Share Holding Post Issue | 47.48% |
Incorporated in 1992, Parag Milk Foods Ltd is Pune based dairy-based branded food producer. Company is involve in collection, distribution of milk and producing dairy-based branded consumer products including cheese, ghee, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages. All products of the company are made from cow milk.
Company's manufacturing facilities are located at Manchar in the Pune district of Maharashtra and Palamaner in the Chittoor district of Andhra Pradesh. Company's supply chain network includes procurement from 29 districts across Maharashtra, Andhra Pradesh, Karnataka and Tamil Nadu, through over 3,400 village level milk collection centres. Parag Milk Foods Brand and product lineup under them:
1. Gowardhan
Gowardhan brand is targeted at house-hold consumption and to be used as cooking ingredients. The products under this brand includes fresh milk, curd products (curd, trim curd and buttermilk), ghee, paneer, butter, milk powders, whey proteins, gulab jamun mix and shrikhand.
2. Go
Targeted at children and the youth generation, primarily for direct consumption. The products under this brand includes cheese products, UHT milk (go milk, go slim milk and go supremo milk), fresh milk: go kidz, fruit yoghurts in six flavours, fresh cream and beverages (lassi and buttermilk in two flavours).
3. Pride of Cows
Farm-to-home concept of milk, directly delivered from the farm to a consumer's door-step, through a subscription model. Targeted at household consumers seeking premium quality cow's milk. The product include under this brand is cow milk.
4. Topp Up
Targeted at the youth generation and travellers as a source of instant nourishment. The products under this brand includes flavoured milk in six flavours.
Competitive Strengths:
1. Well Established Brands Targeting a Range of Consumer Groups
2. Integrated Business Model
3. Diversified Product Portfolio and Customer Base
4. Growing Pan-India Distribution Network
5. Established Track Record of Growth and Financial Performance
6. Experienced Senior Management
|
Particulars |
For the year/period ended (in Rs. Million) | |||||
| 31-Dec-15 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | 31-Mar-11 | |
| Total Assets | 9,701.09 | 9,229.82 | 8,228.84 | 6,914.37 | 6,049.71 | 4,733.14 |
| Total Revenue | 12,311.88 | 14,405.19 | 10,895.00 | 9,271.49 | 9,005.40 | 6,585.03 |
| Profit After Tax (PAT) | 319.23 | 259.66 | 159.68 | 207.74 | 188.97 | (4.14) |
| KPI | Values |
|---|---|
| RoNW | 22.67% |
The object of the issue are:
1. To meet the capital expenditure requirements for expansion and modernisation of existing manufacturing facilities at Manchar and Palamaner;
2. Investment in Subsidiary for financing the capital expenditure requirements in relation to the expansion and modernisation of the Bhagyalaxmi Dairy Farm;
3. Partial repayment of the Working Capital Consortium Loan; and
4. General corporate purposes.
[Dilip Davda]
As this company has consumer centric retail play, it is poised for bright prospects ahead. Based on recent trends for white revolution industry, fund surplus investors may consider investment for medium to long term rewards.
Read detail review...The Parag Milk IPO is subscribed 1.83 times on May 11, 2016 5:00:00 PM. The public issue subscribed 2.12 times in the retail category, 1.15 times in the QIB category, and 3.08 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.15 |
| NII | 3.08 |
| Retail | 2.12 |
| Employee | 1.02 |
| Total | 1.83 |
Parag Milk Foods offers discount of up to Rs 12 on Issue Price (per Equity Share) to all eligible Retail Individual Bidders and Eligible Employees.
Date Posted: 06 May 2016
BRLM to the Parag Milk Foods Limited issue, has informed the Exchange that the issue closure date has been extended upto 11 May,2015.Post issue modification date has been revised to 12 May,2016.Price band has been revised from 220/- to Rs. 227/- To Rs. 215/- to Rs. 227/- per share
| Listing Date | May 19, 2016 |
| BSE Script Code | 539889 |
| NSE Symbol | PARAGMILK |
| ISIN | INE883N01014 |
| Final Issue Price | ₹215 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹215.00 |
| ₹215.70 |
| ₹215.70 |
| ₹250.00 |
| ₹247.80 |
| NSE |
|---|
| ₹215.00 |
| ₹217.50 |
| ₹217.50 |
| ₹249.70 |
| ₹247.00 |
Parag Milk Foods Ltd
Flat No 1, Plot No. 19,
Nav Rajasthan Society, S.B. Road,
Shivaji Nagar, Pune 411 016
Phone: +91 22 4300 5555
Email: cs@paragmilkfoods.com
Website: http://www.paragmilkfoods.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Parag Milk IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹751.78 Crores. The issue is priced at ₹215 to ₹227 per share. The minimum order quantity is 65 Shares.
The IPO opens on May 4, 2016, and closes on May 11, 2016.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Parag Milk IPO opens on May 4, 2016 and closes on May 11, 2016.
Parag Milk IPO lot size is 65 Shares, and the minimum amount required is ₹14,755.
You can apply in Parag Milk IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Parag Milk IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Parag Milk IPO allotment status.
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