Markets

Dodla Dairy raises ₹156 cr from 18 anchor investors

Dodla Dairy has raised ₹156 crore from 18 anchor investors at the upper price band of ₹428 per equity share. The firm allocated 36.46 lakh equity shares at the upper price band of ₹428 per share ahead of the initial public offering (IPO).

While DSP Small Cap Fund gets 16.66 per cent of the anchor investor portion of shares, Ashoka India Opportunities Fund is alloted 13.46 per cent, IIFL Special Opportunities Fund 12.17 per cent and SBI Magnum Midcap Fund 8.33 per cent.

The company’s IPO opens on June 16 and would close on June 18.

 

Dodla Dairy Limited procures an average of 1.03 million litres of milk a day.

The IPO comes with a price band of ₹421 to ₹428 a share. Bids can be made for a minimum of 35 shares and in multiples of 35 shares thereafter.

It comprises a new issue aggregating up to ₹50 crore and an offer for sale of up to 1.09 crore equity shares, including 92 lakh shares held by TPG Dodla Dairy Holdings Pte. Ltd.

The company said a part of the proceeds would be used to pay debts to the tune of ₹32 crore.

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