Dodla Dairy IPO subscribed 3.30 times on second day of subscription

By: |
June 17, 2021 9:00 PM

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

ipoClean Sciences and Technology’s Rs 1,546 crore initial public offering (IPO) will open for subscription on July 7.

Dodla Dairy’s initial public offer was subscribed 3.30 times on the second day of subscription on Thursday.

The Rs 520.17-crore initial public offer received bids for 2,80,50,960 shares against 85,07,569 shares on offer, as per NSE data.

The category meant for qualified institutional buyers (QIBs) was subscribed 28 per cent, non-institutional investors 60 per cent and retail individual investors (RIIs) 6.18 times.

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

Price range for the offer is fixed at 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 requirement 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 are the managers to the offer.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1KFC, Pizza Hut operator Devyani International IPO opens Aug 4; will join Burger King post listing
2Rolex Rings IPO fully subscribed on Day 1, grey market premium at 50%; should you subscribe?
3ESAF Small Finance Bank files Rs 998-cr IPO papers with SEBI; will join Ujjivan SFB, Equitas SFB upon listing