Parag Milk gets SEBI approval for IPO

Report says that the public issue consists of fresh issue of equity shares worth Rs. 325 crore and an offer for sale of up to 19,850,000 equity shares.

Dairy firm Parag Milk Foods has received Sebi’s approval to raise an estimated Rs.1,200 crore through an initial public offering, according to reports.

Report says that the public issue of Parag consists of fresh issue of equity shares worth Rs. 325 crore and an offer for sale of up to 19,850,000 equity shares.

The proceeds of the issue will be utilised for expansion and modernisation.

The issue is being managed by Kotak Mahindra Capital, JM Financial Institutional Securities, IDFC Securities and Motilal Oswal Investment Advisors, says report.