Dodla Dairy IPO: Issue fully subscribed on day one, retail portion filled 1.97 times

Dodla Dairy IPO: Dodla Dairy’s IPO opened on June 16 and the IPO was fully subscribed on the same day. The company had issued 85.07 lakh shares under the issue, while on the very first day, bids were held for 85.71 lakh shares.

The reserve portion for retail investors also got filled on the very first day. This share is subscribed 1.97 times. While the share of non-institutional investors is filled at 8 per cent. Qualified Institutional Buyer’s portion is subscribed 2%.

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The company is preparing to raise Rs 520 crore from the issue. Its issue price is Rs 421-528 per share. The company had raised Rs 156.05 crore from anchor investors by offering 36,46,099 shares at Rs 428 per share on June 15, a day before the opening of the IPO.

Under the issue, the company has issued a fresh issue of Rs 50 crore. While there is an offer for sale of Rs 1.09 crore. TPG Dodla Dairy Holdings Pvt Ltd and the promoters are selling their stake.

Giving a subscribe rating to the issue, Choice Broking said, “After the transition, the focus on health has increased, due to which the demand for packaged milk is higher than ever before. Apart from this, the demand for the company’s products due to the opening of hotels, restaurants and cafes. Will grow.”

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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.

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