 "Parag Milk Foods IPO: Positives priced in")
Dairy firm - Parag Milk Foods - has rallied to Rs 245, after listing at Rs 216 on the Bombay Stock Exchange (BSE).
The company issued equity shares at Rs 215 per share to qualified institutional buyers (QIBs) and non-institutional investors (NIIs). Retail investors and employees, on the other hand, were offered a discount of Rs 12 per equity share.
Allotment to anchor investors was made at Rs 227.
On the National Stock Exchange (NSE), the stock rallied up to Rs 246 after opening at Rs 218. A combined 7.74 million shares changed hands on the counter.
The company raised Rs 760 crore through initial public offering (IPO) was oversubscribed 1.83 times. The issue was extended by three days and had also revised price band to Rs 215-227 per share.
Earlier, the price band was previously fixed at Rs 220-227.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.15 times and non-institutional investors received 3.08 times subscription. Retail investors category was subscribed 2.12 times. Maharashtra-based Parag Milk, which began operations in 1992, is a leading manufacturers and marketers of dairy-based branded foods in the country.
The company issued equity shares at Rs 215 per share to qualified institutional buyers (QIBs) and non-institutional investors (NIIs). Retail investors and employees, on the other hand, were offered a discount of Rs 12 per equity share.
Allotment to anchor investors was made at Rs 227.
On the National Stock Exchange (NSE), the stock rallied up to Rs 246 after opening at Rs 218. A combined 7.74 million shares changed hands on the counter.
The company raised Rs 760 crore through initial public offering (IPO) was oversubscribed 1.83 times. The issue was extended by three days and had also revised price band to Rs 215-227 per share.
Earlier, the price band was previously fixed at Rs 220-227.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.15 times and non-institutional investors received 3.08 times subscription. Retail investors category was subscribed 2.12 times. Maharashtra-based Parag Milk, which began operations in 1992, is a leading manufacturers and marketers of dairy-based branded foods in the country.
