Dodla Dairy IPO opens on Wednesday: Right here’s everything you wish to seize

By: Explicit Web Desk | Original Delhi |



June 15, 2021 12: 40: 43 pm





dodla dairy ipoDodla Dairy is present all the design thru five states along with Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra, running under brands like Dodla Dairy, Dodla and KC+.

Dodla Dairy IPO: The initial public offering (IPO) of Dodla Dairy will commence for subscription on Wednesday, June 16, 2021, at a designate band of Rs 421-428 per allotment. The provide will seemingly be on hand for subscription till Friday, June 18, 2021.

The IPO contains a peculiar affirm of as much as Rs 50 crore and an provide on the market (OFS) of as much as 1,09,85,444 fairness shares by promoters and patrons. The OFS contains 92 lakh fairness shares by investor TPG Dodla Dairy Holdings, and 4,16,604 fairness shares by Dodla Sunil Reddy, 10,41,509 fairness shares by Dodla Family Belief, and 3,27,331 fairness shares by Dodla Deepa Reddy.

The Hyderabad-basically basically based company is into the integrated dairy segment. It earns its earnings thru the sale of milk and other dairy-basically basically based price-added products (VAPs) on the market.

“Amongst non-public dairy avid gamers with a serious presence in the southern put of India, it's are the third very most realistic when it involves milk procurement per day with a median procurement of 1.03 million litres of raw milk per day (MLPD) as of March 31, 2021 and 2nd very most realistic when it involves market presence all the design thru all of India amongst non-public dairy avid gamers with a serious presence in the southern put of India,” HDFC Securities Retail Research Desk stated of their IPO repeat.

The corporate’s integrated industry mannequin in India contains procurement, processing, distribution and marketing and marketing operations. Its procurement operations are unfold all the design thru the states of Andhra Pradesh, Telangana, Tamil Nadu, Karnataka and Maharashtra. Processing operations encompass processing the composed raw milk into packaged milk and manufacturing other dairy-basically basically based VAPs by 13 processing flora with an mixture set in ability of 1.70 MLPD.

Dodla Dairy also has an international presence in African countries along with Uganda and Kenya.

Investors who wish to subscribe to Dodla Dairy IPO can repeat in loads of 35 fairness shares and multiples thereafter. On the upper designate band, they is also dispensing Rs 14,980 to glean a single lot of Dodla Dairy. The shares will seemingly be listed on each BSE as successfully as the National Stock Exchange (NSE).

The applicants also must repeat that the slash-off time for UPI mandate affirmation is Monday, June 21, 2021, upto 12: 00 pm. If they fail to carry out so then their application could perhaps also merely now not be thought to be.

ICICI Securities and Axis Capital are the e book-running lead managers to the IPO whereas KFin Technologies is the registrar of the affirm.

The evaluate teams at Reliance Securities and Ventura Securities of their respective notes occupy instructed “Subscribe” to the provide whereas those at HDFC Securities haven’t given any rating to the IPO.

Reliance Securities in its IPO repeat stated, “The IPO is valued at 16.5x of FY21 earnings, which appears to be like to be like to be moderately valued. Whereas its shut watch Heritage Meals trades at par with DDL, Hatsun Agro trades at 81x of FY21 earnings, a serious top class when put next with DDL. Pretty staunch performance when put next with friends, consistent cash expertise and sturdy return ratio (24 per cent RoE) enabled Hatsun Agro to repeat such top class valuation. Going forward, sustainability of up-to-the-minute enchancment in running performance will be the principle for DDL’s valuation rerating in the medium-time frame. Alive to about sturdy OCF yield and consumer-centric industry, which veritably instructions increased diverse, we imply SUBSCRIBE to the IPO from the long-time frame level of view.”

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