Dodla Dairy opens on the stock market on June 16; Price band set at Rs 421-428 per share

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Dodla Dairy will be the third company to launch an IPO next week, after Shyam Metalics and Sona Comstar.

Dodla Dairy will launch its initial public offering (IPO) on June 16. The public offering of the Hyderabad-based company will be open for three days between June 16 and June 18, and the shares will be offered in the price range of Rs 421- 428 per share. The shares are expected to be listed on the BSE and NSE on June 28.

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The public offer of Dodla Dairy will consist of a new issue of a maximum of Rs 50 crore and a sale offer of a maximum of 1,09 85,444 shares by the promoters. The offer to sell consists of 92 lakh shares of investor TPG Dodla Dairy Holdings, 4,16,604 shares of Dodla Sunil Reddy, 10,41,509 shares of Dodla Family Trust and 3,27,331 shares of Dodla Deepa Reddy.

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Applicants may bid for a minimum of one lot of 35 shares and in multiples of 35 shares thereafter, ranging up to 13 lots. A total of 50% of the issue size has been reserved for qualified institutional buyers, 35% for buyers 15 percent for non-institutional investors.

The company will use the proceeds of the IPO to repay debt and for capital expenditure needs.

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Dodla Dairy is an integrated dairy company based in South India. It operates in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra, with the brands Dodla Dairy, Dodla and KC +, and in Uganda and Kenya with the brands Dodla Dairy, Dairy Top and Dodla +.

Dodla Dairy will be the third company to launch an IPO next week, after Shyam Metalics and Sona Comstar.

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