- Wealth PMS
Marking its debut on the Indian Stock Market, Parag Milk Foods (PARAGMILK) closed at Rs. 248/- with a premium of Rs. 30.50/-. The price band for the book building process was Rs. 220-227/-.
PMFL is one of the leading manufacturers and marketers of dairy‐based branded foods in India. The company commenced operations in 1992 with collection and distribution of milk and have developed into a dairy‐based branded consumer products company with an integrated business model, manufacturing a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.
The company derives all of their products only from cows’ milk. The company’s aggregate milk processing capacity is 2mn lpd and their cheese plant has the largest production capacity in India, with a raw cheese production capacity of 40MT per day. ‘Gowardhan’ and ‘Go’, their flagship brands, are among the leading ghee, cheese and other value added product brands in India. PMFL has two dairy plants – one at Manchar and another at Palamaner in Andhra Pradesh.
The company disclosed its shareholding pattern today and 1 significant investor caught our eye. Ashish Kacholia aka Big Whale who holds 915,354 shares or 1.09%. Ashish Kacholia heads Lucky Securities. He is also the co-founder of Hungama.com along with Neerja Roy and other well-known investor like Rakesh Jhunjhunwala. (Grab a copy of our latest Big Whales Report here)
Other notable Foreign Investors in the stock were India Opportunities Fund – Pinewood Strategy, Macquarie Emerging Markets among others.
Disclosure: Capital Mind has recommended Parag Milk Foods as part of its Long Term portfolio. Please assume we are biased. There is no business relationship between the companies mentioned and Capital Mind.
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.