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Kotak Mahindra, JM Financial, IDFC Securities, and Motilal Oswal Investment Advisors Private complete INR 7.505 billion IPO on Bombay Stock Exchange and National Stock Exchange of India

May 2016

Client(s) Kotak Mahindra Capital Company Limited, JM Financial Institutional Securities Limited, IDFC Securities Limited, and Motilal Oswal Investment Advisors Private Limited

Jones Day advised Kotak Mahindra Capital Company Limited, JM Financial Institutional Securities Limited, IDFC Securities Limited, and Motilal Oswal Investment Advisors Private Limited, as lead book running managers, on Parag Milk Foods Limited’s initial public offering on the Bombay Stock Exchange and National Stock Exchange of India.

The IPO raised INR 7.505 billion (US$112.2 million) through a Section 4(a)(2)/Rule 144A and Regulation S offering of new and secondary equity shares.

Parag Milk is one of the leading manufacturers and marketers of dairy-based branded foods in India, manufacturing and distributing a diverse range of products including cheese, ghee, fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages through several leading and well established product brands in India.

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