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Parag Milk Foods IPO is a book build issue of ₹750.54 crores. The issue is a combination of fresh issue of 1.37 crore shares aggregating to ₹300.00 crores and offer for sale of 2.06 crore shares aggregating to ₹450.54 crores.
Parag Milk Foods 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 Foods IPO price band is set at ₹215.00 per share . The lot size for an application is 65. The minimum amount of investment required by an retail is ₹13,975 (65 shares). The lot size investment for sNII is 15 lots (975 shares), amounting to ₹2,09,625, and for bNII, it is 72 lots (4,680 shares), amounting to ₹10,06,200.
The issue includes a reservation of up to 3,00,000 shares for employees offered at a discount of ₹12.00 to the issue price.
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Parag Milk Foods IPO RHP for detailed Information.
| IPO Date | May 4, 2016 to May 11, 2016 |
| Listing Date | May 19, 2016 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹215 to ₹227 per share |
| Issue Price Final | ₹215 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,42,71,268 shares (aggregating up to ₹750.54 Cr) |
| Fresh Issue | 1,36,98,695 shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 2,05,72,573 shares of ₹10 (aggregating up to ₹450.54 Cr) |
| Retail Discount | Rs 12.00 per share |
| Employee Discount | ₹12.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,04,15,887 shares |
| Share Holding Post Issue | 8,41,14,891 shares |
Parag Milk IPO offers total 3,42,71,577 shares. Out of which 2,54,78,687 (74.34%) allocated to QIB, 1,03,74,752 (30.27%) allocated to QIB, 50,95,735 (14.87%) allocated to NII, 33,97,155 (9.91%) allocated to RII and 1,51,03,935 (44.07%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,54,78,687 (74.34%) | NA |
| − Anchor Investor Shares Offered | 1,51,03,935 (44.07%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,03,74,752 (30.27%) | NA |
| NII (HNI) Shares Offered | 50,95,735 (14.87%) | NA |
| Retail Shares Offered | 33,97,155 (9.91%) | 52,263 |
| Employee Shares Offered | 3,00,000 (0.88%) | NA |
| Total Shares Offered | 3,42,71,577 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Parag Milk Foods IPO opens on May 4, 2016, and closes on May 11, 2016.
| IPO Open Date | Wed, May 4, 2016 |
| IPO Close Date | Wed, May 11, 2016 |
| Tentative Listing Date | Thu, May 19, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, May 11, 2016 |
Investors can bid for a minimum of 65 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹13,975 |
| Retail (Max) | 14 | 910 | ₹1,95,650 |
| S-HNI (Min) | 15 | 975 | ₹2,09,625 |
| S-HNI (Max) | 71 | 4,615 | ₹9,92,225 |
| B-HNI (Min) | 72 | 4,680 | ₹10,06,200 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 Company Parag Milk Foods IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Expansion and Modernisation Plan | 147.70 |
| 2 | Investment in Subsidiary for financing the capital expenditure requirements in relation to the expansion and modernisation of the Bhagyalaxmi Dairy Farm | 2.30 |
| 3 | Partial repayment of the Working Capital Consortium Loan | 100.00 |
| 4 | General corporate purposes | 28.80 |
[Dilip Davda] <p><strong>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.</strong></p> Read detail review...
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 |
| BSE Listing Group | B |
Parag Milk Foods Ltd.
Flat No 1, Plot No. 19,
Nav Rajasthan Society, S.B. Road,
Shivaji Nagar, Pune 411 016
Shivaji Nagar, Maharashtra
Phone: +91 22 4300 5555
Email: cs@paragmilkfoods.com
Website: http://www.paragmilkfoods.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Parag Milk Foods IPO is a main-board IPO of 3,42,71,268 equity shares of the face value of ₹10 aggregating up to ₹750.54 Crores. The issue is priced at ₹215 per share. The minimum order quantity is 65.
The IPO opens on May 4, 2016, and closes on May 11, 2016.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Parag Milk Foods IPO using UPI as a payment gateway. Zerodha customers can apply in Parag Milk Foods IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Parag Milk Foods IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Parag Milk Foods IPO opens on May 4, 2016 and closes on May 11, 2016.
Parag Milk Foods IPO lot size is 65, and the minimum amount required for application is ₹13,975.
You can apply in Parag Milk Foods IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Parag Milk Foods IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Parag Milk Foods IPO allotment status.
The Parag Milk Foods IPO listing date is on Thursday, May 19, 2016.
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