As the market sentiments improve, companies are once again making a beeline to list on the bourse. Milking the buoyant market environment, Hyderabad-based Dodla Dairy opens for subscription on June 16. We bring you all the details about India’s third largest private dairy.
Key details
- Price band: ₹421 – ₹428 per equity share
- Lot size: 35 shares
- IPO size: ₹512-520 crore
- Fresh issue: ₹50 crore
- Cost per lot: ₹14,980
- Issue opens: 16 June 2021
- Issue closes: 18 June 2021
- Basis of allotment date: 23 June 2021
- Initiation of refunds: 24 June 2021
- Credit of shares to demat account: 25 June 2021
- Expected listing date: 28 June 2021
About Dodla Dairy
Hyderabad-based Dodla Dairy is the third largest private integrated dairy company in terms of milk procurement in India. It primarily derives its revenue from the four southern states and Maharashtra. Also, the dairy firm claims to be ranked second among private dairy players in terms of presence across markets in India.
The company sells its products under the brand names—Dodla Dairy (for milk and perishable products such as curd, flavoured milk) and Dodla (for value-added products such as ghee, butter, paneer, butter milk and ice creams). The revenue from milk and value added products (high margin) constituted 75% and 25% of the total pie respectively, for the first three quarters of FY21.
Dodla Dairy’s revenue has grown at a CAGR of 16% between FY2018 and FY2020. And it plans to increase its topline from value-added products to beef up profits.
About the issue
The company will raise ₹50 crore as fresh issue, which will be used for repaying debt, increasing capex and general corporate purposes. The offer for sale is ₹470 crore.
IPO allocation quota
| QIB | NIB | Retail |
| 50% | 15% | 35% |
To know more about the IPO, read its red herring prospectus here. The issue opens on 16 June 2021 and you can subscribe to Dodla Dairy with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!