South India-based general dairy company Dodla Dairy said on Friday, June 11, it fixed the price range of Rs 421-428 per share for an initial sale of Rs 520. It is scheduled to be open to the public on June 16th.
The company said the three-day initial public offering (IPO) will end on June 18, and anchor investors’ bids will begin on June 15.
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The IPO consists of new issuance of up to Rs. 5 billion worth of shares and offers by TPG Dodla Dairy Holdings, Dodla Sunil Reddy, Dodla Deepa Reddy and Dodla Family Trust to sell up to 1,09,85,444 shares. ..
The promoter holds 24,970,631 shares, which is equivalent to 42.81 percent of the company’s issued, subscribed and paid-in equity capital. Dodla Sesha Reddy owns 556,716 shares, Dodla Sunil Reddy owns 8,269,038 shares and Dodla Family Trust owns 16,144,877 shares.
It sells raw milk, ghee, butter, tofu, paneer, and sweets for home consumption. The company’s business in India spans four main states in South India: Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its international business is based in Uganda and Kenya.
The company operates under the Dodla Dairy, Dodla, and KC + brands. Their overseas operations are under the Dodla Dairy, Dairy Top, and Dodla + brands.
The IPO will obtain a cap of 520.17 rupees on the issue price.
The proceeds from the issuance are used to pay specific borrowings, fund the company’s capital expenditure requirements, and for general corporate purposes.
Axis Capital and ICICI Securities are the first investment bankers to sell their shares. The shares of both companies will be listed on NSE and BSE.
Dodla Dairy IPO: Price earnings ratio is fixed at Rs 421-428 per share and a public subscription is expected to begin on June 16.
https://www.zeebiz.com/market-news/news-dodla-dairy-ipo-price-band-fixed-at-rs-421-428-per-share-plans-public-subscription-opening-on-june-16-158468 Dodla Dairy IPO: Price earnings ratio is fixed at Rs 421-428 per share and a public subscription is expected to begin on June 16.