Dodla Dairy mobilises Rs 156 cr from anchor traders forward of IPO

NEW DELHI: Dodla Dairy, a leading dairy company in southern India, on Tuesday acknowledged it has raised a little bit over Rs 156 crore from anchor traders forward of its initial fragment-sale, which opens for public subscription on Wednesday.

The corporate has made up our minds to allocate a complete of 36,46,099 equity shares at Rs 428 apiece to anchor traders for Rs 156.05 crore, a round uploaded on BSE web page showed.

Those participated within the anchor bidding incorporated SBI Mutual Fund (MF), Aditya Birla Solar Life MF, Edelweiss MF, Kuber India Fund, Saint Capital Fund and Integrated Core Systems Asia Pte Ltd.

They moreover incorporated Global Finance Company, Ashoka India Alternatives Fund, and IIFL Special Alternatives Fund.

The IPO comprises a new issuance of shares worth as a lot as Rs 50 crore, besides an offer on the market of as a lot as 1,09,85,444 equity shares by TPG Dodla Dairy Holdings Pte Ltd, Dodla Sunil Reddy, Dodla Deepa Reddy and Dodla Household Trust.

At the upper-conclude of the insist sign, the initial public offering (IPO) is anticipated to safe Rs 520.17 crore.

The insist, with a demonstration band of Rs 421-428 a fragment, will open for public subscription all the device by device of June 16-18.

Half of the insist measurement has been reserved for licensed institutional investors, 35 per cent for retail traders, and 15 per cent for non-institutional bidders.

The proceeds from the insist will be old for payment of sure borrowings, funding capital expenditure requirement of the company, and for usual corporate capabilities.

The corporate's operations in India are essentially all the device by device of the four states — Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its international operations are essentially essentially based in Uganda and Kenya.

Axis Capital and ICICI Securities are the investment bankers of the company's initial fragment sale. The equity shares of every corporations will be listed on the NSE and the BSE.

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