PTI
June 15, 2021 / 10: 35 PM IST
Dodla Dairy, a number one dairy firm in southern India, on Tuesday said it has raised a small bit of over Rs 156 crore from anchor merchants sooner than its preliminary share-sale, which opens for public subscription on Wednesday.
The firm has decided to allocate a full of 36,46,099 equity shares at Rs 428 apiece to anchor merchants for Rs 156.05 crore, a round uploaded on BSE net space confirmed.
These participated within the anchor bidding included SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Edelweiss MF, Kuber India Fund, Saint Capital Fund and Integrated Core Suggestions Asia Pte Ltd.
They additionally included International Finance Corporation, Ashoka India Opportunities Fund, and IIFL Special Opportunities Fund.
The IPO comprises a novel issuance of shares worth up to Rs 50 crore, besides a proposal 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 Belief.
At the upper-discontinue of the difficulty note, the preliminary public providing (IPO) is expected to fetch Rs 520.17 crore.
The say, with a note band of Rs 421-428 a share, will launch for public subscription throughout June 16-18.
Half of the difficulty dimension has been reserved for licensed institutional merchants, 35 per cent for retail merchants, and 15 per cent for non-institutional bidders.
The proceeds from the difficulty can be weak for payment of certain borrowings, funding capital expenditure requirement of the firm, and for total corporate functions.
The firm's operations in India are essentially across the four states Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its global operations are essentially based in Uganda and Kenya.
Axis Capital and ICICI Securities are the investment bankers of the firm's preliminary share sale. The equity shares of every companies can be listed on the NSE and the BSE.
