Dodla Dairy IPO: Gray market premium of Rs 180 today, should you invest?

Dodla Dairy IPO: The issue of Dodla Dairy will open on June 16 and close on June 18. Dodla Dairy’s premium is trading at Rs 180 above the issue price in the gray market a day before the IPO opens. The gray market premium shows how bullish investors are on an issue.

According to Mint, talking about Dodla Dairy’s gray market premium, Ravi Singhal, Vice Chairman, GCL Securities said, “Dodla Dairy is running at a premium of Rs 180, which means that the market is listing its listing at Rs 601-628 per share. This is a good sign for the promoters of the company. The issue price of Dodla Dairy is Rs 421-428. The company’s IPO consists of a lot of 35 shares.

Know when the allotment of shares will happen

The issue of Dodla Dairy will open on June 16 and close on June 18.

The allotment of shares of Dodla Dairy will take place on June 23, 2021. Its listing is expected on 28 June 2021.

Dodla Dairy plans to raise Rs 520.17 crore from the issue. Out of this, the company will pay Rs 32.26 crore to the banks.

The company has reserved 50 per cent of the issue for qualified institutional buyers, 15 per cent for non-institutional buyers and the remaining 35 per cent for retail investors.

What is special about the company?

Dodla Dairy is a major dairy products company in South India along with other private players and has a strong presence in the premium consumer markets. The company’s total revenue comes from the sale of milk and dairy products.

According to a report by Crisil, it is the third largest company with a presence in South India in terms of milk procurement. It procures more than 10 lakh liters of milk every day. At the same time, it is the second largest private dairy company in South India in terms of market share.

Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra. Apart from this, the company also operates in Uganda and Kenya.

The company gets 72.81% revenue from milk and 27.18% from dairy products. Dodla Dairy is compared with Hatsun Agro Products, Heritage Foods and Parag Milk Foods.

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