Dodla Dairy IPO Opens Today; Price Band Fixed At Rs 421-428 Per Share

Edited by Peter Noronha

16 Jun 2021, 08:35 AM IST

Dodla Dairy is the third company to launch an IPO this week, following Shyam Metalics and Sona Comstar

Dodla Dairy's initial public offering (IPO) opens for subscription today i.e. June 14. The public issue will be open for three days between June 16 and June 18, in the price band of Rs 421-428 per share. The shares are likely to be listed on the BSE Sensex and NSE Nifty on June 28.

Dodla Dairy's public offer will include 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. Investors can bid for a minimum one lot of 35 shares and in multiples thereof, extending up to 13 lots.

A total of 50 per cent of the issue has been reserved for qualified institutional buyers, 35 per cent for retail buyers and 15 per cent for non-institutional investors.

In the offer for sale, a total of 92 lakh shares will be offloaded by TPG Dodla Dairy Holdings, 4,16,604 shares by Dodla Sunil Reddy, 10,41,509 shares by Dodla Family Trust and 3,27,331 shares by Dodla Deepa Reddy.

Dodla Dairy will utilise the IPO proceeds to repay debt and to meet capital expenditure requirements.

Dodla Dairy is an integrated dairy company located in Hyderabad. It operates in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra, with Dodla Dairy, Dodla and KC+ brands, and in Uganda and Kenya under the brand names Dodla Dairy, Dairy Top and Dodla+.

Axis Capital and ICICI Securities are the book-running lead managers to the public issue of Dodla Dairy, whereas KFintech is the registrar to the issue.

Dodla Dairy is the third company to launch an IPO this week, following in the footsteps of the ongoing Shyam Metalics and Sona Comstar IPOs that are due to close today.