Parag Milk Foods Ltd Incorporated in 1992, Parag Milk Foods Ltd is Pune based dairy-based branded food producer. Parag Milk Foods Ltd 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

Company Promoters:

The Promoters of the company are:

1. Mr Devendra Shah
2. Mr Pritam Shah and
3. Parag Shah

Company Financials:

Particulars	For the year/period ended (in Rs. Million)
	31-Dec-15	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12	31-Mar-11
Total Assets	9,701.09	9,229.82	8,228.84	6,914.37	6,049.71	4,733.14
Total Revenue	12,311.88	14,405.19	10,895.00	9,271.49	9,005.40	6,585.03
Profit After Tax (PAT)	319.23	259.66	159.68	207.74	188.97	(4.14)

Objects of the Issue:

The object of the issue are:

1. To meet the capital expenditure requirements for expansion and modernisation of existing manufacturing facilities at Manchar and Palamaner;
2. Investment in Subsidiary for financing the capital expenditure requirements in relation to the expansion and modernisation of the Bhagyalaxmi Dairy Farm;
3. Partial repayment of the Working Capital Consortium Loan; and
4. General corporate purposes.

Issue Detail:

  »»  Issue Open: May 4, 2016 – May 6, 2016
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size:
    ›  Fresh Issue of [.] Equity Shares of Rs 10 aggregating up to Rs 325.00 Cr
    ›  Offer for Sale of 19,850,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs. 220 – Rs. 227 Per Equity Share
  »»  Market Lot: 65 Shares
  »»  Minimum Order Quantity: 65 Shares
  »»  Listing At: BSE, NSE

Discount Retail Individual Bidders and Eligible Employees

Parag Milk Foods offers discount of up to Rs 12 on Issue Price (per Equity Share) to all eligible Retail Individual Bidders and Eligible Employees.

Issue Subscription Detail / Current Bidding Status

	Number of Times Issue is Subscribed (BSE + NSE)
As on Date & Time	QIB	NII	RII	Employee	Total
Shares Offered / Reserved	10,388,303	5,098,447	3,398,964	300,000	19,185,714
Day 1 – May 4, 2016 17:00 IST	0.1300	0.0300	0.1500	0.0300	0.1000