Sixth Sense India Trims Stake in Parag Milk Foods by Selling 29.54 Lakh Shares

Domestic consumer-focused venture fund Sixth Sense India Opportunities III has trimmed its stake in dairy major Parag Milk Foods Limited, divesting 29,54,115 equity shares through open market transactions.

The regulatory disclosure was triggered under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as the cumulative disposal crossed the mandatory 2% disclosure threshold.

Details of the Stake Sale

According to exchange filings, the disposal took place over a ten-month period between November 19, 2025, and September 23, 2026, reflecting a phased divestment strategy rather than a single bulk block.

Prior to the sales, Sixth Sense India Opportunities III, alongside persons acting in concert (PAC)—including Nikhil Vora and IYA Ventures—held an aggregate of 63,30,358 shares, accounting for 5.06% of the company's voting capital and 4.71% of its diluted share capital.

Following the transfer of 29,54,115 shares—representing 2.35% of voting capital—their aggregate holding stands reduced to 33,76,243 equity shares, or 2.69% of voting capital (2.51% on a fully diluted basis).

Key Transaction Breakdown:

• Shares held before disposal: 63,30,358 (5.06% voting capital / 4.71% diluted)
• Shares sold: 29,54,115 (2.35% voting capital / 2.19% diluted)
• Shares held post-disposal: 33,76,243 (2.69% voting capital / 2.51% diluted)
• Total diluted share base: 13,46,88,539 shares as of June 30, 2026

Institutional Presence and Background

Sixth Sense India Opportunities III is a scheme managed under Sixth Sense Ventures Trust, a Category II Alternative Investment Fund registered with SEBI. The fund is categorized under public shareholding and is not part of the promoter group.

Sixth Sense initially entered Parag Milk Foods via an equity subscription agreement in May 2021, acquiring shares alongside Sixth Sense India Opportunities II, and later scaled up positions during 2023. The latest offloading represents a significant reduction in the fund's footprint within the dairy manufacturer.

Operational Context

Parag Milk Foods, known for marquee consumer brands such as Gowardhan, Go Cheese, Pride of Cows, and Avvatar, has been actively expanding its core value-added dairy portfolio. The company recently outlined capital expenditure plans, including a ₹100 crore investment aimed at scaling its paneer processing capacity fourfold from 20 metric tonnes per day to 80 metric tonnes per day by June 2027 across facilities in Maharashtra and Andhra Pradesh.

Tags: Parag Milk Foods Sixth Sense India SEBI Bulk Deals NSE BSE