Parag Milk Foods shares made its debut on stock exchanges on Thursday, listing flat at Rs 215.70 on BSE, and subsequently jumping nearly 14 per cent to Rs 245.50 in the early trade. The issue price Parag Milk Foods was Rs 215.
On NSE, the scrip opened at Rs 217.50 and touched a high and low of Rs 245.85 and 217.50, respectively. However, shares of the company opened on a flat note.
At 10.17 am, shares of the company were trading 11.17 per cent up at Rs 241.80 on NSE and 11.93 per cent up at Rs 240.65 on BSE.
Later, shares of Parag Milk Foods closed 15.26 per cent up at Rs 247.80 on BSE and 14.02 per cent up at Rs 248 on NSE.
The company’s Rs 760-crore initial public offering (IPO), which was extended by three days, was oversubscribed 1.83 times on the final day of the offer which ended on May 11. The issue period was from May 4-11.
Parag Milk had also revised price band to Rs 215-227 per share. The price band was previously fixed at Rs 220-227.
The book running lead managers to the issue were Kotak Mahindra Capital Company, JM Financial Institutional Securities, IDFC Securities and Motilal Oswal Investment Advisors Private.