Parag Milk Foods converts FCCBs, expands equity base

Parag Milk Foods Limited allotted 5,733,713 fully paid-up equity shares to International Finance Corporation (IFC) on September 29, 2025. This allotment follows the exercise of conversion rights for IFC's entire holding of 10,680 Foreign Currency Convertible Bonds (FCCBs) at a conversion price of INR 135 per equity share.

This conversion increases the company's total paid-up equity shares from 119,375,841 to 125,109,554, with each share maintaining a face value of INR 10. The newly allotted shares will rank pari-passu with existing equity shares.

Following this transaction, the outstanding value of FCCBs for Parag Milk Foods has been reduced to nil, completing the conversion process as per the FCCB Subscription Agreement.