Parag Milk Foods IPO
Parag Milk Foods IPO — date, price band, lot size & details 2016
Parag Milk Foods listed on 19 May 2016 at ₹217.5, 1.2% above the ₹215 issue price.
Parag Milk Foods is a Pune based dairy company making branded cheese, ghee, whey protein, paneer, curd, milk powder and dairy drinks, all from cow milk. Its total income was Rs 1,421.21 crore in FY2015.
Stock price
Parag Milk Foods is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 04 May 2016
- Close 11 May 2016
- Allotment 17 May 2016
- Refund/credit TBA
- Listing 19 May 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 4 to 11 May, 2016 |
|---|---|
| Price Band | ₹215 – ₹227 |
| Face Value | ₹10 |
| Lot Size | 65 Shares |
| Issue Size | ₹750.54 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 12.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 13,975 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 65 shares at the ₹215 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 924.52 crore in FY2013 to Rs 1,421.21 crore in FY2015.
- 02Total borrowing fell from Rs 513.18 crore in FY2014 to Rs 363.78 crore on 31 December 2015.
- 03Net worth rose from Rs 84.24 crore in FY2013 to Rs 289.72 crore on 31 December 2015.
- 04Rs 147.70 crore of the issue was for expansion and modernisation.
Risks · 5
- 01Profit after tax was only Rs 30.33 crore on income of Rs 1,421.21 crore in FY2015.
- 02Profit after tax fell from Rs 22.22 crore in FY2013 to Rs 19.24 crore in FY2014.
- 03Milk procurement prices can swing with seasons, squeezing margins; total assets were Rs 974.51 crore.
- 04Rs 450.54 crore of the issue went to selling shareholders, and it was priced at Rs 215, the bottom of the band.
- 05Promoter holding fell from 61.13% before the issue to 47.48% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Parag Milk Foods offer document.
| Metric | 31 Dec 2015 | 31 Mar 2015 | 31 Mar 2014 | 31 Mar 2013 |
|---|---|---|---|---|
| Assets | 974.51 | 925.22 | 813.47 | 675.42 |
| Total Income | 1,214.89 | 1,421.21 | 1,080.26 | 924.52 |
| Profit After Tax | 33.50 | 30.33 | 19.24 | 22.22 |
| NET Worth | 289.72 | 133.81 | 103.48 | 84.24 |
| Reserves and Surplus | 223.56 | 117.84 | 87.51 | 68.27 |
| Total Borrowing | 363.78 | 429.85 | 513.18 | 446.91 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Parag Milk Foods RHP.
Where the money goes
₹278.80 Cr of the issue is earmarked to named objects.
Parag Milk Foods IPO Anchor Investors
22 anchor investors across 7 fund houses committed ₹342.87 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It collects and distributes milk and makes branded dairy products including cheese, ghee, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages, all from cow milk.
Its manufacturing facilities are at Manchar in Pune district, Maharashtra.
The IPO was Rs 750.54 crore, with Rs 300.00 crore of fresh issue and Rs 450.54 crore of offer for sale, at Rs 215, the bottom of the Rs 215 to Rs 227 band. The fresh money was for expansion and modernisation and repaying working capital loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Parag Milk Foods IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Motilal Oswal Investment Advisors
79 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Dam Capital Advisors Ltd
70 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Parag Milk Foods?
The current Grey Market Premium is ₹0.
What is the Parag Milk Foods IPO price band?
₹215 to ₹227, on a face value of ₹10.
When is the allotment?
The basis of allotment is 17 May 2016, with listing on 19 May 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
