Stellar debut: Parag Milk trading 15% higher than issue price

However, the stock attracted interests from institutional and retail investors as well as the session progressed and is currently trading 14.889% higher at Rs. 247 on BSE.

May 19, 2016 09:05 IST India Infoline News Service

Parag Milk Food, the Mumbai-based leading producers of dairy products, got listed today on the BSE and NSE with a modest premium of around 1%. However, the stock attracted interests from institutional and retail investors as well as the session progressed and is currently trading 14.88% higher at Rs. 247 on BSE.

Parag Milk Foods shares listed at Rs.235 on debut. The company’s Rs.760 crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11.

On May 3, 2016, the Company had finalized the allocation of 1,51,03,935 equity shares to anchor investors at a price of Rs. 227 per equity share aggregating to Rs. 342.86 crore to anchor investors.

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