BackDodla Dairy IPO subscribed 3.3 times; KIMS 56% on Day 2
Dodla Dairy’s IPO received bids for 28.05 million shares against 8.51 million shares on offer, as per data available with the exchanges
PremiumThe initial public offer of TPG Capital backed Dodla Dairy was subscribed 3.3 times on the second day of bidding, led by retail investor subscription.
The IPO received bids for 28.05 million shares against 8.51 million shares on offer, as per data available with the exchanges.
The portion meant for Qualified Institutional Buyers (QIBs) was subscribed 28%, non-institutional investors 60% and that for retail individual investors (RIIs) 6.18 times.
The IPO consists of a fresh issue aggregating up to Rs50 crore and an offer for sale of up to 10,985,444 equity shares by existing investors of the company. The offer for sale consists of share sale by the promoters of the company and private equity investor TPG Capital.
The company plans to raise ₹520.17 crore at a higher end of the price band of ₹421 to ₹428 per equity Share.
The net proceeds of a fresh issue will be utilized for repaying of certain borrowings availed by the company.
Also on Thursday, the ₹2,144crore initial public offer of hospital chain Krishna Institute of Medical Sciences Ltd (KIMS) was subscribed 56%.
The IPO received bids for 8.05 million equity shares against 14.41 million equity shares on offer, as per data available with the NSE.
The portion reserved for retail investors saw a subscription of 1.95 times, Qualified Institutional Buyers (QIBs) was subscribed 32%, Non institutional investors 9% and that of employees was subscribed 66%.
Krishna Institute of Medical Sciences (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of number of patients treated and treatments offered.
The initial public offer comprises a fresh issue of up to ₹200 crore and an offer for sale of up to 2,35,60,538 equity shares.
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