Parag Milk Foods Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 25,478,687 (74%) | — | ₹57,837 Cr |
| NII (HNI) | — | 5,095,735 (15%) | — | ₹11,567 Cr |
| Retail | — | 3,397,155 (10%) | — | ₹771 Cr |
| Employee | — | 300,000 (1%) | — | ₹68 Cr |
| Σ Total | — | 34,271,577 (100%) | — | ₹777,965 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,755 |
| Retail (Max) | 13 | 845 | ₹191,815 |
| S-HNI (Min) | 14 | 910 | ₹206,570 |
| B-HNI (Min) | 67 | 4,355 | ₹988,585 |
Financial Statements Amount In Crore
| Metric | 31-Dec-15 | 31-Mar-15 | 31-Mar-14 |
|---|---|---|---|
| Revenue | 1,231 | 1,441 | 1,090 |
| Profit After Tax | 32 | 26 | 16 |
| Total Assets | 970 | 923 | 823 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Expansion and Modernisation Plan – 147.70
- 2 Investment in Subsidiary for financing the capital expenditure requirements in relation to the expansion and modernisation of the Bhagyalaxmi Dairy Farm – 2.30
- 3 Partial repayment of the Working Capital Consortium Loan – 100.00
- 4 General corporate purposes – 28.80
Company Overview
Incorporated in 1992, Parag Milk Foods Ltd is Pune based dairy-based branded food producer. Company is involve in collection, distribution of milk and producing dairy-based branded consumer products including cheese, ghee, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages. All products of the company are made from cow milk.
Company's manufacturing facilities are located at Manchar in the Pune district of Maharashtra and Palamaner in the Chittoor district of Andhra Pradesh. Company's supply chain network includes procurement from 29 districts across Maharashtra, Andhra Pradesh, Karnataka and Tamil Nadu, through over 3,400 village level milk collection centres. Parag Milk Foods Brand and product lineup under them:
1. Gowardhan
Gowardhan brand is targeted at house-hold consumption and to be used as cooking ingredients. The products under this brand includes fresh milk, curd products (curd, trim curd and buttermilk), ghee, paneer, butter, milk powders, whey proteins, gulab jamun mix and shrikhand.
2. Go
Targeted at children and the youth generation, primarily for direct consumption. The products under this brand includes cheese products, UHT milk (go milk, go slim milk and go supremo milk), fresh milk: go kidz, fruit yoghurts in six flavours, fresh cream and beverages (lassi and buttermilk in two flavours).
3. Pride of Cows
Farm-to-home concept of milk, directly delivered from the farm to a consumer's door-step, through a subscription model. Targeted at household consumers seeking premium quality cow's milk. The product include under this brand is cow milk.
4. Topp Up
Targeted at the youth generation and travellers as a source of instant nourishment. The products under this brand includes flavoured milk in six flavours.
Competitive Strengths:
1. Well Established Brands Targeting a Range of Consumer Groups
2. Integrated Business Model
3. Diversified Product Portfolio and Customer Base
4. Growing Pan-India Distribution Network
5. Established Track Record of Growth and Financial Performance
6. Experienced Senior Management