Parag Milk Foods closes IPO; issue oversubscribed

Parag Milk Foods closes IPO; issue oversubscribed

Pune-based dairy products company Parag Milk Foods has closed its initial public offering (IPO) as the qualified institutional buyer (QIB) portion was fully subscribed.

The company had cut the issue price and extended the IPO as the QIB portion had not been fully subscribed.

According to data available on the NSE website, the QIB portion was subscribed 1.15 times with bids being received for 1.22 crore shares against the issue size of 1.06 crore share

The overall issue was subscribed 1.83 times with bids for 3.56 crore shares against the issue size of 1.95 crore shares. The retail portion was subscribed over 2 times, while the non institutional investor portion was subscribed over 3 times.

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