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IFC to acquire 6.41% stake in Parag Milk Foods

Capital Market 

Parag Milk Foods has executed subscription and policy right agreement with International Finance Corporation (IFC) for allotment of 6756,756 fully paid equity shares of the company at a subscription price of Rs 111 per subscription share for an aggregate amount of Rs 74.99 crore to be paid by IFC.

Upon completion, IFC shall hold an aggregate 6.41% stake in the company on a fully diluted basis.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, May 04 2021. 19:32 IST