These new offerings cater to the growing demand for high-quality dairy and nutrition-based products across the company’s flagship brands
Aimed at catering to the growing demand for health-focused nutrition, Parag Milk Foods, a dairy fast-moving consumer goods (FMCG) company, has expanded its product portfolio with high-protein, nutrient-rich products. The company has also notified the Board’s approval, subject to the shareholder’s approval, to issue convertible warrants on a preferential basis amounting to Rs 161 crore.
These new offerings cater to the growing demand for high-quality dairy and nutrition-based products across the company’s flagship brands, Gowardhan, Go Yogurt and Pride of Cows. With protein becoming an essential nutritional need in India, the company aims to provide high-quality dairy solutions that fulfill this demand.
“Our latest offerings across all brands of Parag Milk Foods reinforce our focus on high-protein, nutrient-dense offerings, ensuring consumers have access to superior dairy nutrition. With protein becoming a daily essential dietary need not just in India but globally, our offerings, including high-protein paneer, cheese, and yogurt, are designed to meet evolving nutritional requirements,” stated Akshali Shah, Executive Director of Parag Milk Foods.
As far as the company raising Rs 161 crore is concerned, this aims to optimise the company’s debt, support working capital and capital expenditure initiatives of the Company. The Board has approved the issuance of 90,00,000 convertible warrants, each carrying a face value of Rs 10, at an issue price of Rs 179.10 per share warrant (including a premium of Rs 169.10). Upon conversion, these warrants will translate into 90,00,000 fully paid-up equity shares.
“This strategic investment is a major milestone in our growth journey. It reaffirms our assurance to delivering high-quality, value-driven dairy products while expanding our footprint globally,” stated Devendra Shah, Chairman of Parag Milk Foods.
With this strategic infusion of capital, Parag Milk Foods is eyeing to enhance its operational efficiency, drive innovation and strengthen its market leadership in the dairy industry.
