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Dodla Dairy IPO closes with 45.61 times subscription

·1-min read

New Delhi, Jun 18 (PTI) The initial public offer of Dodla Dairy was subscribed 45.61 times on the last day of subscription on Friday.

The Rs 520.17-crore initial public offer (IPO) received bids for 38,80,64,950 shares against 85,07,569 shares on offer, according to an update on the NSE.

The qualified Institutional Buyers(QIBs) category was subscribed 84.88 times, noninstitutional investors 73.26 times, and retail individual investors(RIIs) 11.33 times.

The initial public offer comprised a fresh issue of Rs 50 crore and an offer for sale of 1,09,85,444 equity shares.

The offer was in a price range of Rs 421-428 per share.

Dodla Dairy, a leading dairy company in southern India, on Tuesday, said it has raised a little over Rs 156 crore from anchor investors.

The proceeds from the issue will be used for payment of certain borrowings, funding capital expenditure requirements of the company, and for general corporate purposes.

The company's operations in India are primarily across four states -- Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. Its international operations are based in Uganda and Kenya.

ICICI Securities and Axis Capital were the managers of the offer. PTI SUM SHW SHW

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