Parag Milk Foods shines on raising Rs 131 crore through preferential allotment
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Parag Milk Foods is currently trading at Rs. 104.85, up by 3.05 points or 3.00% from its previous closing of Rs. 101.80 on the BSE.
The scrip opened at Rs. 103.45 and has touched a high and low of Rs. 105.45 and Rs. 102.65 respectively. So far 38432 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.85 on 12-Nov-2021 and a 52 week low of Rs. 65.50 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 105.45 and Rs. 95.60 respectively. The current market cap of the company is Rs. 1093.09 crore.
The promoters holding in the company stood at 40.75%, while Institutions and Non-Institutions held 18.52% and 40.73% respectively.
Parag Milk Foods has raised a total of Rs 131 crore through preferential allotment from marquee investors and promoters. Investors have put in around Rs 113 crore, demonstrating their trust in the company's ethos, values as well as a promising growth strategy. In addition, the promoters will also invest Rs 18.75 crore. This fund raise comes at an opportune time to enable the company to meet its expanded working capital need to capitalize on demand potential and pave the way for a profitable business ahead.
Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan India presence.
