Parag Milk Foods to raise Rs 161 cr, expands product portfolio
With this strategic infusion of capital, Parag Milk Foods is well-positioned to enhance its operational efficiency, and further strengthen its market leadership in the dairy industry.
These new offerings cater to the growing demand for high-quality dairy and nutrition-based products across the company’s flagship brands.
Parag Milk Foods Ltd, a leading player in the dairy FMCG sector, has announced the Board’s approval, subject to shareholder’s approval, to issue convertible warrants on a preferential basis amounting to Rs 161 crore. This aims to optimize the company’s debt and/or support working capital and capital expenditure initiatives of the company.
The board has approved the issuance of 90,00,000 (Ninety Lakh) convertible warrants, each carrying a face value of Rs 10/-, at an issue price of Rs 179.10/- per share warrant (including a premium of Rs 169.10/-). Upon conversion, these warrants will translate into 90,00,000 fully paid-up equity shares.
The preferential allotment has been made to a distinguished group of investors as mentioned below:
* Key Stakeholders: Utpal Sheth, Rajesh Kabra, Vishesh Dalal, and Trishakti Power Holdings Pvt Ltd.
* Ankit Jain, Chief Strategy Officer, Parag Milk Foods, who would be allotted 2 lakh convertible warrants, reinforcing his confidence in the company’s future growth prospects.
* Promoters: Devendra Shah, Chairman, Parag Milk Foods, and Pritam Shah, Managing Director, who continue to play a pivotal role in the company’s strategic direction.
Out of the seven allottees, four are non-promoters, two are promoters, and one is a senior leader within the company. Their participation in this fundraising initiative reflects strong internal confidence in Parag Milk Foods’ future growth.
Devendra Shah, Chairman, Parag Milk Foods Ltd., commented on this development, stating, “This strategic investment is a major milestone in our growth journey. It reaffirms our assurance to delivering high-quality, value-driven dairy products while expanding our footprint globally. The trust and confidence shown by our investors inspire us to accelerate our vision, enhance our capabilities, and drive long-term value creation for all stakeholders.”
With this strategic infusion of capital, Parag Milk Foods is well-positioned to enhance its operational efficiency, drive innovation, and further strengthen its market leadership in the dairy industry.
Expansion of product portfolio
Meanwhile, Parag Milk Foods has also announced the expansion of its product portfolio with high-protein, nutrient-rich products, catering to the growing demand for health-focused nutrition. This strategic investment underscores the company’s commitment to innovation and quality, reinforcing its position as a leading provider of premium dairy nutrition in the fast-growing India and global markets.
These new offerings cater to the growing demand for high-quality dairy and nutrition-based products across the company’s flagship brands:
* Gowardhan: Crunchy Chikki – made with 100% pure Gowardhan Ghee available in two flavours of Sesame and Peanut
* Go Yogurt – Goodness of Cow Milk with a wholesome blend of fruits & creamy indulgence
* Pride of Cows– Single-origin Dairy Brand
– Low-Fat & High-Protein Paneer – 45 gm protein
– Mint & Masala Buttermilk – A refreshing summer drink
– Greek Yogurt- Fig & Honey, Blueberry, Pineapple and Mixed Berry with No added Sugar packed with 8g of protein
– High-quality, farm-fresh Bocconcini – Fresh Mozzarella Balls for gourmet preparations of dishes
* Avvatar India Whey Protein: Chocolate and Coffee wafer High- Protein Bar snack for on-the-go fitness enthusiasts.
This strategic launch underscores Parag Milk Foods’ dedication to providing consumers with nutritious and innovative products that align with modern lifestyles.
