Parag Milk Foods, one of India’s leading dairy FMCG companies, has announced that its Board has approved the issuance of convertible warrants worth ₹161 crore on a preferential basis. The move is aimed at optimizing debt, strengthening working capital, and supporting upcoming capital expenditure projects.
Subject to shareholder approval, the company will issue 90 lakh convertible warrants at a price of ₹179.10 per warrant (including a premium of ₹169.10), which upon conversion, will translate into an equal number of fully paid-up equity shares.
The preferential allotment has attracted participation from both promoters and key stakeholders, reflecting strong internal confidence in the company’s long-term growth. Prominent investors in the issuance include Utpal Sheth, Rajesh Kabra, Vishesh Dalal, and Trishakti Power Holdings Pvt Ltd. Additionally, the company’s chairman Devendra Shah, managing director Pritam Shah, and chief strategy officer Ankit Jain—who will receive 2 lakh warrants—are also part of the allotment.
Of the seven allottees, four are non-promoters, two are promoters, and one is a senior company executive.
Commenting on the development, Devendra Shah, Chairman of Parag Milk Foods, said, “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 expand its presence in the dairy and nutrition segments through its premium product portfolio, which includes flagship brands such as Gowardhan, Go, Pride of Cows, and Avvatar. The fresh capital infusion is expected to support the company’s innovation-led expansion and global growth ambitions.