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Dodla Dairy IPO Opens Next Week: Price bank, Issue Size and Other Key Details

(Representational Photo: Shutterstock)

(Representational Photo: Shutterstock)

The public offer of Dodla Dairy will be the fourth main-board company to launch IPO in the next week

Hyderabad-based integrated diary company – Dodla Dairy, will launch its initial public offering (IPO) on Wednesday, June 16 at a price band of Rs 421- 428 per share. The dairy company’s public issue will be open for three days between June 16 to 18 and the shares are likely to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on June 28.

According to the CNBCTV18 report, the public offer of Dodla Dairy will be the fourth main-board company to launch IPO in the next week, after Shyam Metalics, Sona Comstar and KIMS Hospitals. The Hyderabad-based dairy company’s IPO will consist of a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 shares by the promoters and investor. Dodla Sunil Reddy,Dodla Deepa Reddy and Dodla Family Trust are part of the promoter group.

The total offer for sale consists of 92 lakh equity shares by investor TPG Dodla Dairy Holdings, 10,41,509 equity shares by Dodla Family Trust. While, 4,16,604 and 3,27,331 equity shares by Dodla Sunil Reddy and Dodla Deepa Reddy, respectively, the publication further cited.

The minimum Bid Lot is 35 equity shares and in multiples of 35 thereafter, extending up to 13 lots. The maximum investment is 455 shares or Rs 1,94,740 at the higher end of the price band. A total of 50 per cent of the issue size has been reserved for qualified institutional buyers (QIB), 35 per cent for retail buyers and 15 per cent for non-institutional investors, by the company.

The company proposes to utilise the proceeds from the fresh issue to repay debt and for capital expenditure requirements.

ICICI Securities and Axis Capital, are the book running lead managers for the issue.

Dodla Dairy was incorporated in 1995, the company operates in South India and Maharashtra and is engaged in the procurement, processing, distribution, and marketing of milk and dairy products.

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first published:June 12, 2021, 12:35 IST