The company has decided to allocate a total of 36,46,099 equity shares at ₹428 apiece to anchor investors for ₹156.05 crore, a circular uploaded on BSE website showed
New Delhi:Dodla Dairy, a leading dairy company in southern India, on Tuesday said it has raised a little over ₹156 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Wednesday.
The company has decided to allocate a total of 36,46,099 equity shares at ₹428 apiece to anchor investors for ₹156.05 crore, a circular uploaded on BSE website showed.
Those participated in the anchor bidding included SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Edelweiss MF, Kuber India Fund, Saint Capital Fund and Integrated Core Strategies Asia Pte Ltd.
They also included International Finance Corporation, Ashoka India Opportunities Fund, and IIFL Special Opportunities Fund.
The IPO comprises a fresh issuance of shares worth up to ₹50 crore, besides an offer for sale of up to 1,09,85,444 equity shares by TPG Dodla Dairy Holdings Pte Ltd, Dodla Sunil Reddy, Dodla Deepa Reddy and Dodla Family Trust.
At the upper-end of the issue price, the initial public offering (IPO) is expected to fetch ₹520.17 crore.
The issue, with a price band of ₹421-428 a share, will open for public subscription during June 16-18.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and 15 per cent for non-institutional bidders.