Dodla Dairy IPO: Subscription opens on June 16; Test worth band and extra

Picture Supply : INDIA TV

Dodla Dairy IPO: Subscription opens on June 16; Test worth band

Dodla Dairy, a number one dairy firm in south India, on Friday stated it has fastened a worth band of Rs 421-428 a share for its Rs 520-crore preliminary share-sale, which can open for public subscription on June 16.

The three-day preliminary public providing (IPO) will conclude on June 18 and the bidding for anchor traders would open on June 15, the corporate stated in a digital press convention.

The IPO contains contemporary issuance of shares value as much as Rs 50 crore, moreover, a proposal on the market of as much as 1,09,85,444 fairness shares by TPG Dodla Dairy Holdings Pte Ltd, Dodla Sunil Reddy, Dodla Deepa Reddy and Dodla Household Belief.

On the higher finish of the difficulty worth, the IPO is anticipated to fetch Rs 520.17 crore.

Half of the difficulty dimension has been reserved for certified institutional patrons, 35 per cent for retail traders and 15 per cent for non-institutional bidders.

Proceeds from the difficulty will probably be used for cost of sure borrowings, funding capital expenditure requirement of the corporate and for basic company functions.

The corporate’s operations in India are primarily throughout the 4 south Indian states of Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its worldwide operations are primarily based in Uganda and Kenya.

Axis Capital and ICICI Securities are the funding bankers of the corporate’s preliminary share sale. The fairness shares of each corporations will probably be listed on NSE and BSE.

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