Dodla Dairy, an built-in dairy firm primarily based in south India, on Friday, June 11, mentioned it has fastened a worth band of Rs 421-428 a share for its Rs 520-crore preliminary share sale. It’s planning to open the general public subscription on June 16.
The three-day preliminary public providing (IPO) will conclude on June 18 and the bidding for anchor buyers would open on June 15, the corporate mentioned.
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The IPO contains contemporary issuance of shares price as much as Rs 50 crore, in addition to, a suggestion on the market of as much as 1,09,85,444 fairness shares by TPG Dodla Dairy Holdings, Dodla Sunil Reddy, Dodla Deepa Reddy, and Dodla Household Belief.
The promoters maintain 24,970,631 Fairness Shares, aggregating to 42.81 per cent of the pre-offer issued, subscribed and paid-up Fairness Share capital of the corporate. Dodla Sesha Reddy holds 556,716 Fairness Shares, Dodla Sunil Reddy holds 8,269,038 Fairness Shares and Dodla Household Belief holds 16,144,877 Fairness Shares within the firm.
The corporate sells contemporary milk, ghee, butter, curd, paneer, and sweets, that are focused at consumption at residence. The corporate’s operations in India are primarily throughout the 4 south Indian states of Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. Its worldwide operations are primarily based in Uganda and Kenya.
The corporate’s operations are undertaken below the manufacturers Dodla Dairy, Dodla, and KC+. Their abroad operations are undertaken below the manufacturers Dodla Dairy, Dairy Prime, and Dodla+.
The IPO is predicted to fetch Rs 520.17 crore on the higher finish of the difficulty worth.
Proceeds from the difficulty will probably be used for fee of sure borrowings, funding capital expenditure necessities of the corporate, and for common company functions.
Axis Capital and ICICI Securities are the funding bankers of the corporate’s preliminary share sale. The fairness shares of each firms will probably be listed on NSE and BSE.
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