Dairy firm Parag Milk Foods has fixed price band from Rs 220 to Rs 227 per equity share to raise around Rs 750 crore through its initial public offer (IPO). “We have fixed the price band between Rs 220 and Rs 227 per equity share to raise around Rs 750 crore through IPO. The public issue comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale of over two crore equity shares,” Parag Milk Foods Chairman Devendra Shah told reporters here.
The firm is making an offer for sale of up to 20,572,573 equity shares comprising 14,286,449 equity shares by the investor selling shareholders namely Motilal Oswal and IDFC PE.