Parag Milk Foods Pvt. Ltd, a maker of dairy products, is in advanced talks with private investors to raise $50 million by selling shares, according to three people familiar with the development. The three people, one associated with the firm and the other two investment bankers, spoke on condition of anonymity.

Edelweiss Financial Services Ltd is negotiating with interested parties, investment bankers said. Talks are on with private equity firms TPG Capital India and Bain Capital Advisors (India) Pvt. Ltd, said the third person.

Parag sells milk powder, ghee, processed cheese, butter and curd under Gowardhan and Go brands. “The fund raising plans are at a very early stage and not much detailing has been done as to how much capital will be raised and who will be approached,” said Rahul Akkara, vice-president, marketing, Parag Milk Foods. He said the firm had approached Edelweiss and other investment banks to scout for investors. Edelweiss, TPG and Bain declined comment........Read More

Source: Live Mint