Parag Milk Foods Limited's promoters release 75 lakh pledged shares

The Promoters of Parag Milk Foods Limited have released 75,00,000 equity shares out of the existing 186,93,000 equity shares pledged by them with Kotak Mahindra Investments Limited.

The promoters have repaid Kotak Mahindra Investments Limited Rs. 54.00 crores out of the original loan amount of Rs. 64.00 crores borrowed and that they would repay the ENTIRE outstanding loan of Rs.10.00 crores as per the earlier announcements and release the balance 111,93,000 pledged shares within the time line as informed in their letter dated March 02, 2020.

Shares of Parag Milk Foods Ltd was last trading in BSE at Rs.91.05 as compared to the previous close of Rs. 87.85. The total number of shares traded during the day was 28537 in over 500 trades.

The stock hit an intraday high of Rs. 94.55 and intraday low of 83.35. The net turnover during the day was Rs. 2531270.

Source : Equity Bulls

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