Dodla Dairy was incorporated on May 15, 1995. The company is an integrated da iry company based in south India primarily deriving all revenue for Fiscal 2020 and for the nine months period ended December 31, 2020 from the sale of milk and dairy based VAPs in the consumer market.
| Bidding Dates |
|---|
| 16 Jun 2021 - 18 Jun 2021 |
| Subscription |
|---|
| 45.62x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,980 | 1 | 13 | 35 | 12.2 M | ₹421 - ₹428 | 79.57 % | ₹5116.7 M - ₹5201.8 M | RHP DOC |
Dodla Dairy IPO SUBSCRIPTION STATUS
18 Jun '21Dodla Dairy IPO overall subscription rate was 45.62 times the total available shares
Dodla Dairy IPO retail subscription rate was 11.34 times in the retail segment
Dodla Dairy IPO non-institutional investor subscription rate was 73.26 times in the non-institutional investor category
Dodla Dairy IPO Qualified Institutional Bidder subscription rate was 84.88 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
18 Jun 2021 (Day 3) | 11.34x | 73.26x | 84.88x |
17 Jun 2021 (Day 2) | 6.18x | 0.6x | 0.28x |
16 Jun 2021 (Day 1) | 2.73x | 0.14x | 0.02x |
Dodla Dairy FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 9MFY21 | 1,163.9 | 14,135.1 | 1,954.2 | 1,590.9 |
| FY20 | 498.7 | 21,393.7 | 1,655.8 | 705.7 |
| FY19 | 627.6 | 16,916.7 | 1,355.9 | 385.7 |
| FY18 | 568.5 | 15,904.8 | 874.5 | 161.3 |
Dodla Dairy IPO SUBSCRIPTION STATUS DETAILS
Dodla Dairy had 12.2 M shares on offer
Dodla Dairy IPO offer price was in the range ₹421 - ₹428
Dodla Dairy IPO minimum Investment was ₹14980
Dodla Dairy IPO issue size was ₹ 5116.7 M - ₹ 5201.8 M
Dodla Dairy had a minimum lot size of 35 Shares per application
Dodla Dairy NUMBER OF SHARES ON OFFER
Dodla Dairy IPO IMPORTANT DATES
| Issue Open Date | 16 Jun 2021 |
| Issue close Date | 18 Jun 2021 |
| Allotment Date | 23 Jun 2021 |
| Refund Date | 24 Jun 2021 |
| Demat Account Credit Date | 25 Jun 2021 |
| Listing Date | 28 Jun 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Dodla Dairy Allotment Status | Exchange |
Dodla Dairy IPO subscription opened on 16 Jun 2021, and closed on 18 Jun 2021
IPO allotment for Dodla Dairy was finalized on Wednesday, 23 Jun 2021
IPO listing for Dodla Dairy was on NSE and BSE on Monday, 28 Jun 2021
Dodla Dairy IPO LISTING GAINS
| Issue Price (adjusted) | 428.0 |
| Listing Open Price | 550.0 |
| Listing Close Price | 609.1 |
| Listing Gain% | 28.5% |
| Current Gain% | 143.4% |
Dodla Dairy Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dodla Dairy Ltd. | 1041.6 | 6196.8 | 25.7 | -5.1 | 1.5 | 15.9 | 12.7 | 4185.6 | 10.9 | 267 | 2.7 | 40.6 | -5 |
| Nestle India Ltd. | 1540 | 296960.4 | 77.9 | 3.4 | 12.2 | 67.8 | 26.5 | 23195 | 14.5 | 3499.1 | 9.1 | 19.8 | 22.6 |
| Britannia Industries Ltd. | 5510 | 132718.4 | 51 | 2.7 | 6.8 | 49.6 | 26 | 19375.6 | 6.6 | 2533.5 | 16.3 | 108.1 | 18.7 |
| Hatsun Agro Products Ltd. | 941.1 | 20962.9 | 56.3 | 2.5 | 2 | 18.3 | 8 | 9972.9 | 14.8 | 356.2 | 24.8 | 16.7 | 22.9 |
| Zydus Wellness Ltd. | 533.8 | 16985 | 90.2 | -2.1 | 3.7 | 3.4 | 1.9 | 3967.4 | 45.7 | 197.2 | -43.2 | 5.9 | -42.5 |
| Bikaji Foods International Ltd. | 623.5 | 15633.4 | 60.5 | 2.2 | 5.1 | 16.1 | 11.5 | 3045.3 | 14.7 | 258.3 | 28.6 | 10.3 | 27.9 |
Dodla Dairy INFORMATION ON IPO ISSUE
About Dodla Dairy
Dodla Dairy was incorporated on May 15, 1995. The company is an integrated da iry company based in south India primarily deriving all revenue for Fiscal 2020 and for the nine months period ended December 31, 2020 from the sale of milk and dairy based VAPs in the consumer market.
Object of the Issue
1. To repay or prepay company's borowings fully or partially.
2. To finance capital expenditure requirements.
3. To meet general corporate purposes.
Dodla Dairy - PROMOTERS
| Name |
|---|
| Dodla Sunil Reddy |
| Dodla Sesha Reddy |
| Dodla Family trust |
Dodla Dairy Book Running Lead Managers
ICICI Securities Limited
dodla.ipo@icicisecurities.com
Axis Capital Limited
dodladairy.ipo@axiscap.in
Dodla Dairy Registrar to the Offer
KFin Technologies Private Limited
dodladairy.ipo@axiscap.in
Dodla Dairy Strengths
Diversified product portfolio
The company has large product portfolio
Leading dairy player
The company is a leading dairy player in the Southern region of India.
Distribution network
The company has a strong distribution network
Integrated business model
Integrated business model with stringent quality control procedure
Experience team
Experienced board and managerial team
Dodla Dairy Risks
Dependent on raw material
The company's operations are highly dependent on the supply of single raw material, i.e. Milk
Concentrated business
The company's processing plants, procurement operations in relation to the procurement of raw milk and distribution operations are primarily concentrated in southern India
Non compliance
There have been instances of non-compliance with certain compliance-centric provisions of legislation such as the Factories Act, 1948, FSSA, Electricity Act, 2003, Hazardous Waste Rules, etc
IPO FAQs
This IPO consists of an offer for sale of up to Rs 470.2 crore, of 10,985,514 shares. It also consists of a fresh issue of Rs 50.0 crore.
The promoters of the company are Dodla Sunil Reddy, Dodla Sesha Reddy and Dodla Family trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 421.0 - 428.0.
The IPO application opens on Jun 16, 2021 and closes on Jun 18, 2021.
The minimum lot size for the IPO is 35. The maximum lot size for the IPO is 455.
For all category investors, the minimum application amount for this IPO is Rs. 14,980.0, the maximum value for this IPO is Rs 194,740.0.
This IPO will be allotted on Jun 23, 2021.
The refund will be credited to your account on Jun 24, 2021.
The allotted shares will be credited to your demat on Jun 25, 2021.
Dodla Dairy Ltd.’s shares listed on the stock exchanges on Jun 28, 2021.