Dodla Dairy made a strong debut on D-Street, listed at 28% premium against the issue price. Dodla Dairy share listed at ₹550 on NSE and ₹428 on BSE respectively. The share listed with 28.50% premium on NSE and 23.26% premium on BSE against the issue price of ₹428 (higher band). The stock hit a high of ₹652 on NSE and ₹633.60 on BSE. (Check the latest Dodla Dairy Share Price)
The company raised ₹520 crores via initial public offer started on 16 June and ended on 18 June 2021. The company is the 3rd largest dairy player in India. They got the bid for 38,80,64,950 shares against 85,07,569 shares on offer (according to the subscription numbers). The QIBs was subscribed 84.88 times, non-institutional investors 73.26 times and retail investors (RIIs) was subscribed 11.33 times. Dodla Dairy raised ₹156 crore from anchor investors ahead of its IPO.
Dodla Dairy IPO Details
Most of the brokerage houses said investors to subscribe the IPO for short and long term gain. After the GMP stabled around 90-100 level the stock expected to list at premium.
At present, the company is having 13 milk processing and packaging spread across various places in Telangana, Andhra Pradesh ,Tamil Nadu and Karnataka states. The unit locations are Hyderabad, Nellore, Palamaneru, Rajahmundry, Penumuru, Sattenapalle, Badvel, Kurnool, Koppal, Tumkur, Palacode ,Vedasandur and Batlagundu. Also, there is a Milk Powder manufacturing unit in Nellore and Vedasandur . The combined capacity of all the 13 processing and packaging plants 1.70 Million litres of raw milk per day, excluding two SMP plant's in Nellore and Vedasandur which have an aggregate installed capacity of 15,000 and 10,000 kgs per day respectively.