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IPO watch: Dodla Dairy opens IPO today: Here's what you need to know

IPO watch: Dodla Dairy opens IPO today: Here’s what you need to know
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IPO watch: Dodla Dairy opens IPO today: Here’s what you need to know

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Dodla Dairy launched its initial public offer (IPO) today. The issue will close on June 18. Price band for the offer has been fixed at Rs 421-428 per equity share. The dairy firm plans to raise Rs 520 crore through the share sale. This is the third IPO this week after Sona Comstar and Shyam Metalics.

The leading dairy company of South India has raised a little over Rs 156 crore from anchor investors. SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Edelweiss MF, Kuber India Fund, Saint Capital Fund and Integrated Core Strategies Asia Pte among others took part in the anchor bidding.

Axis Capital and ICICI Securities are the investment bankers for the IPO. Equity shares of the firm will be listed on NSE and BSE. The share sale comprises a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 equity shares by promoters and investors.

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

Allotment of shares for the Dodla Dairy IPO is likely to be carried out on June 23, 2021 and tentative date of listing on BSE and NSE is June 28.

Dwaipayan Bhattacharjee
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