 "Parag Milk Foods IPO: Positives priced in")
The Rs 767-crore initial public offering (IPO) Parag Milk Foods has received lukewarm response so far. The IPO, which closes on Friday, was has been subscribed just 23 per cent. The dairy company is looking to raise Rs 300 crore by issue of fresh equity in the IPO. The IPO also comprise of secondary share sale by existing investors to the tune of Rs 467 crore.
The price band for the IPO is Rs 220-227 and retail investors are being offered an additional discount of Rs 12. The institutional investor portion of the IPO is subscribed just 13 per cent, high networth individual 22 per cent and retail portion has garnered 50 per cent subscription, provisional data provided by stock exchanges on Thursday showed.
