The company has reported a consolidated net profit after tax of Rs 9.99 crore for the quarter ended September 2018.
The decision is taken to increase stock liquidity and affordability for small retail investors.
Shares of the company had scaled 52-week high of Rs 511.83 on September 15, 2017 and 52-week low of Rs 344.80 on May 28, 2018.
The company had priced its initial public offering (IPO) at the top end of the price range, to raise roughly 1 billion euros ($1.14 billion)
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Parag Milk Foods was trading 2.18 per cent up at Rs 222.80 and KMG Milk Foods was trading 3.76 per cent up at Rs 26.20.
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