Parag Milk Foods, a leading dairy-based FMCG company, has received board approval to raise ₹161 crore through the issuance of convertible warrants on a preferential basis. The move is aimed at optimizing the company’s debt profile and strengthening its working capital and capital expenditure initiatives.
The board approved the issuance of 90 lakh convertible warrants, each priced at ₹179.10 (including a premium of ₹169.10), subject to shareholder approval. Upon conversion, these warrants will translate into fully paid-up equity shares, giving the investors a stake in the company’s future growth.
This strategic fundraising initiative has attracted a select group of investors, including both promoters and key non-promoter stakeholders. Notable names include Utpal Sheth, Rajesh Kabra, Vishesh Dalal, Trishakti Power Holdings Pvt Ltd, and Ankit Jain, the company’s Chief Strategy Officer, who will receive 2 lakh convertible warrants. Promoters and company leaders such as Chairman Devendra Shah and Managing Director Pritam Shah are also participating in the issuance.
Out of the seven allottees, four are non-promoters, two are promoters, and one is a senior company executive—signaling strong internal and external confidence in Parag Milk Foods’ future trajectory.
Chairman Devendra Shah commented,
“This strategic investment is a major milestone in our growth journey. It reaffirms our assurance to deliver 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.”
Parag Milk Foods continues to grow its presence in the dairy and nutrition segments, with flagship brands such as Gowardhan, Go, Pride of Cows, and Avatar. The capital raised will play a crucial role in expanding its premium product portfolio and supporting its ambition to strengthen its domestic and global market footprint.
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