Dodla Dairy IPO
Dodla Dairy, the company has set a price target of Rs 421-428 per share for the IPO.
Dodla Dairy IPO subscribed 1.4 times on day 1
The initial public offering of Dodla Dairy has been subscribed 1.40 times on June 16, the first day of bidding.
The offer has received bids for 1.19 crore equity shares against IPO size of 85.07 lakh equity shares, the subscription data available on the exchanges showed.
The bullish sentiment in the stock market is also showing movement in the primary market. Companies avoided IPOs due to the epidemic in May 2021. However, the IPOs of Shyam Metallics and Sona Comstar came from June 14 and the IPOs of Dodla Dairy and Kims Hospital are opening today i.e. June 16.
As for Dodla Dairy, the company has set a price target of Rs 421-428 per share for the IPO. The IPO of Rs 515-520 crore will close on June 18. Then on June 28 both the exchanges will be listed on NSE and BSE. Even before the listing, the stock is trading above Rs 180 in the gray market. That means its listing could be around Rs 601-628.
Dodla Dairy IPO price band: The company has fixed price band of its public issue at ₹421 to ₹428.
35 per cent share reserve for retail investors
Experts are advising to invest in this IPO. Dodla Dairy’s share price is lower than other companies in the same segment, he said.
The second largest private dairy company
Dodla Dairy is the second largest private dairy company in the country. Its business is mainly spread in South India. The company operates 13 processing plants in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its total capacity is approximately 1.7 million liters per day. The company buys milk from these 5 states and sells in 11 states.
Dodla Dairy is the third largest company in the country in terms of daily milk purchases. As on March 31, 2021, the company buys an average of 1.03 million liters of raw milk per day from an estimated 1 lakh 9 thousand 670 farmers in 7003 villages in South India.
Dodla Dairy IPO allotment date
The allotment for Dodla Dairy public offer is likely to take place on 23rd June 2021. Initiation of refund will happen on 24th June while shares will be credited to the Demat Account of allotees on 25th June 2021.