On Monday, Dodla Dairy made a strong debut on the stock exchanges. The shares of the debutant were begun trading at Rs 550 as per the National Stock Exchange (NSE), which was up to Rs 112 from the issued price of Rs 428 per piece.
On the Bombay Stock Exchange (BSE), Dodla Dairy was quoting at Rs 574.85, up to Rs 146.85.
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The Rs 530 crore IPO or Initial Public Offer of Dodla Dairy was subscribed more than 45.60 times. Against 85,07,569 shares on offer, shares of Dodla received bids for 38,80,64,950 shares.
Dodla’s retail investors (RIIs) segment was subscribed 11.33 times and the qualified institutional buyers (QIBs) category was subscribed 84.88 times and the non-institutional investors subscribed 73.26 times.
Recently, Dodla Dairy IPO comprised a fresh issue of Rs 50 crore and an offer for sale of 1,09,85,444 equity shares.
Dodla Dairy was incorporated in the year 1995, the company has a significant presence in the southern region of India. It primarily operated in the five Indian states – Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra under brands like Dodla, Dodla Dairy and KC+. It also has some international branches, its international operations are based in Kenya and Uganda with brands, named, Dodla Dairy, Dodla top and Dodla+.
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The company successfully raised Rs 520.17 crore from its investors during June 16-18, 2021. The company has extracted its revenue from the sale of milk (around 75%) and milk-based products. The company sells fresh milk, ghee, butter, curd, paneer and all other dairy products which are consumed at home on the daily basis.
It has 13 processing plants with a storage capacity of 1.70 million liters of raw milk per day.