Dairy-Based FMCG Stock Surged 8 Per cent as Board Approves Rs 161 Crore Fundraising Through 90,00,000 Convertible Warrants
The stock has delivered a 1-year return of -20.85 per cent and a 3-year return of 68.24 per cent.
Shares of Parag Milk Foods Ltd surged over 8 per cent on Thursday as the company announced that its Board of Directors has approved raising funds to the tune of Rs 161 Crore through a preferential issue of convertible warrants. This decision, made during the Board Meeting held on April 3, 2025, aims to optimise debt and meet the company's working capital and capital expenditure requirements.
The Board has approved the preferential issue of 90,00,000 (Ninety Lakh) Convertible Warrants to the proposed allottees, convertible into 90,00,000 equity shares of face value of Rs 10/- each fully paid up at a price of Rs 179.10/- (including a premium of Rs 169.10/-) per share warrant.
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An extraordinary general meeting of the Company will be convened on Saturday, May 3, 2025, through video conferencing or other audio-visual means to seek the necessary approval of shareholders for the preferential issue.
Allotment Table
The following table details the allotment of convertible warrants:
|
Sr. No.
|
Name of proposed Allottees
|
Category
|
Maximum Nos. of convertible warrants to be allotted
|
|
(1)
|
Mr. Utpal Hemendra Sheth
|
Non-Promoter
|
13,00,000
|
|
(2)
|
Mr. Rajesh Kabra
|
Non-Promoter
|
44,000
|
|
(3)
|
Mr. Vishesh Jailesh Dalal
|
Non-Promoter
|
56,000
|
|
(4)
|
M/s. Trishakti Power Holdings Pvt. Ltd.
|
Non-Promoter
|
14,00,000
|
|
(5)
|
Mr. Ankit Jain (Company's Employee)
|
Non-Promoter
|
2,00,000
|
|
(6)
|
Mr. Devendra Shah
|
Promoter
|
30,00,000
|
|
(7)
|
Mr. Pritam Shah
|
Promoter
|
30,000,000
|
About Parag Milk Foods Ltd
Parag Milk Foods Ltd. is one of India's leading dairy-based FMCG companies, with a pan-India presence. It has integrated manufacturing facilities and a well-established distribution network. The company’s portfolio includes a diverse range of products.
As of April 3, 2025, the current stock price of Parag Milk Foods is Rs 183. The stock's 52-week high is Rs 234.25, and the 52-week low is Rs 141.4. Parag Milk Foods has a market capitalisation of Rs 2,023 crore. The stock has delivered a 1-year return of -20.85 per cent and a 3-year return of 68.24 per cent. The Price-Earnings (PE) Ratio stands at 17.46. Major public shareholders include Peanence Commercial Pvt Limited with a 4.96 per cent stake and Vls Finance Ltd with a 1.40 per cent stake.
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Disclaimer: The article is for informational purposes only and not investment advice.