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Home >Markets >Ipo >Dodla Dairy IPO to open on 16 Jun; price band fixed at 421-428 apiece

Dodla Dairy IPO to open on 16 Jun; price band fixed at 421-428 apiece

Proceeds from the issue will be used for repayment borrowings of  ₹32.26 crore and funding capital expenditure requirements of  ₹7.15 crore.Premium
Proceeds from the issue will be used for repayment borrowings of 32.26 crore and funding capital expenditure requirements of 7.15 crore.

  • Dodla Dairy's IPO consists of a fresh issue of 50 crore and an offer for sale of 10.99 million shares by its existing shareholders and promoters. On the upper band of the issue, offer for sale (OFS) amounted to 470 crore

MUMBAI: The initial public offering (IPO) of TPG-backed Dodla Dairy Ltd will open on 16 Jun. Price band for the issue has been fixed at 421-428 a share. The issue will close on 18 June.

The IPO consists of a fresh issue of 50 crore and an offer for sale of 10.99 million shares by its existing shareholders and promoters. On the upper band of the issue, offer for sale (OFS) amounted to 470 crore.

The OFS comprises sale in of 9.20 million shares by TPG Dodla Dairy Holdings PTE Ltd, upto 4.12 lakh by Dodla Sunil Reddy, upto 1.04 million by Dodla Trust Family and upto 3.27 lakh shares by Dodla Deepa Reddy.

The main business of the company is the sale of milk and dairy-based value-added products (VAPs) in the branded consumer market. It has a strong consumer recognition, particularly in the states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.

Proceeds from the issue will be used for repayment borrowings of 32.26 crore and funding capital expenditure requirements of 7.15 crore.

As of December 2020, the company had a total outstanding indebtedness of 963.76 million comprising long-term borrowings, working capital facilities and non-convertible debentures or NCDs.

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