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Parag Milk Foods, which was forced to extend its public offer period by three days, managed to close the issue on Wednesday. By evening, the QIB portion (for institutional investors) was subscribed 1.15 times, the non-institutional portion about 3.08 times and the retail portion was subscribed about 2.12 times. Overall, the offer was subscribed roughly 1.83 times. The company’s offer was supposed to close on Friday, but the QIB portion with 75 per cent reservation, was subscribed only 0.55 times. The company then decided to extend the offer period by three trading days and the price band was revised to ₹215-227.
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