Dodla Dairy Limited IPO – Review, Allotment, Subscription, GMP, DRHP & more
Last Updated Date: Nov 16, 2022Lets have a detailed review of the company and analytics of the Dodla Dairy Limited IPO release date, IPO offer price, subscription, Dodla Dairy IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 421 to Rs 428 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 35 Shares |
| Listing Date | Jun 28, 2021 |
| Offer for Sale | Rs 4701.8 Millions |
| Fresh Issue | Rs 500 Millions |
| IPO Size | Rs 5201.8 Millions |
| Tick Size | 1 |
Dodla Dairy Limited IPO is listed at [●] premium. Check out the live share price by clicking on the below link.
Dodla Dairy Limited IPO – Summary
Their processing operations consist of processing of the collected raw milk into packaged milk and manufacturing of other dairy based VAPs by 13 processing plants with an aggregate installed capacity of 1.70 MLPD.
These include the Vedasandur and Batlagundu processing plants which were acquired by our Company pursuant to a business transfer agreement dated February 8, 2019, with KC Dairy Products Private Limited and its shareholders.
The Promoter of this company is DODLA SUNIL REDDY, DODLA SESHA REDDY, AND DODLA FAMILY TRUST. The lead manager to the issue is ICICI Securities Limited and Axis Capital Limited, and the Registrar to this issue is KFin Technologies Private Limited.
Dodla Dairy IPO Date
The opening and the closing date of the IPO of Dodla Dairy Limited are Jun 16, 2021, and Jun 18, 2021, respectively.
Check out Related IPO Links:
| Dodla Dairy IPO GMP |
| Allotment of Dodla Dairy IPO |
Dodla Dairy IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 16 Jun | 0.02x | 0.14x | 2.73x | 1.40x |
| 2nd Day – 17 Jun | 0.28x | 0.60x | 6.18x | 3.30x |
| 3rd Day – 18 Jun | 9.25x | 41.99x | 8.65x | 15.97x |
| Shares Offered or Net Issue | 2,430,734 | 1,823,051 | 4,253,784 | 8,507,569 |
The shares subscribed by the public will be updated here.
Dodla Dairy IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Dodla Dairy IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | Jun 23, 2021 |
| Refunds Initiation | Jun 24, 2021 |
| Credit of Shares to Demat Account | Jun 25, 2021 |
| Share Listing Date | Jun 28, 2021 |
Dodla Dairy IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.Rs 421 to Rs 428
Dodla Dairy IPO Size
This Initial Public Issue of NA Equity Shares of Rs.10 each for cash at a price of Rs 421 to Rs 428 per equity share aggregating to Rs.5201.8 Millions.
Dodla Dairy IPO Share Offering
Net Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: NA Equity Shares of Rs.10 each, aggregating to Rs.5201.8 Millions
Open Free Demat Account Now!
Dodla Dairy IPO – Live Performance
The listing date of this IPO is [●] . You can check the live performance of the IPO here, only after it is listed on exchanges.
Dodla Dairy IPO Grey Market Premium
The Dodla Dairy Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Dodla Dairy IPO – Company Overview
They are an integrated dairy company based in south India primarily deriving all of their revenue for Fiscal 2020 and for the six months period ended September 30, 2020 from the sale of milk and dairy based VAPs in the branded consumer market.
Amongst private dairy players with a significant presence in the southern region of India, they are the third highest in terms of milk procurement per day with an average procurement of 1.02 million litres of raw milk per day (“MLPD”) as of December 31, 2020 and second highest in terms of market presence across all of India amongst private dairy players with a significant presence in the southern region of India.
The raw milk procured by them is tested by electronic milk analysers which tests for the fat and solid not fat (SNF) content of the raw milk and undergo further tests during the procurement stage. Their milk and dairy based VAPs have received certifications from the FSSAI.
Dodla Dairy Limited IPO Business Verticals
The company place significant emphasis on quality control across an integrated business model and have obtained several quality control certifications and registrations for their operations.
They have well defined documented quality system which is monitored at various stages of procurement and processing. Their processing plants at Nellore, Palamaner, Penemuru, Badvel and Dharmapuriare ISO 22000:2018 certified for food management system.
Company entered into a business transfer agreement with KC Dairy Products Private Limited and Chellamuthu Sureshkumar on February 8, 2019 (“BTA”). Pursuant to the BTA. The Company has acquired two new processing plants at Vedasandur and Batlagundu in Tamil Nadu and one SMP plant at Vedasandur.
Dodla Dairy IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Millions) | ||||
| Sep 20 | Mar 20 | 31-Mar 19 | Mar 18 | |
| Total Assets | 8,183.23 | 8,003.08 | 7,519.21 | 6,089.64 |
| *Total Revenue | 9,182.22 | 21,456.49 | 16,994.59 | 15,970.13 |
| Total Expense | 8,124.87 | 20,637.78 | 16,061.79 | 15,165.73 |
| Profit After Tax | 747.78 | 498.71 | 627.62 | 568.54 |
Earnings per Equity Share (in Millions)
| Sep 20 | Mar 20 | 31-Mar 19 | Mar 18 | |
| Basic | 13.43 |
8.96
|
11.27 |
10.21
|
| Diluted | 13.43 |
8.96
|
11.26 |
10.21
|
Their revenue from operations increased at a CAGR of 15.98% over Fiscal 2018 to Fiscal 2020 and amounted to Rs 21,393.73 million in Fiscal 2020, while the EBITDA increased during the same period at a CAGR of 11.81% and amounted to Rs 1,409.26 million, their profit after tax amounted to Rs 498.71 million in Fiscal 2020.
The revenue from operations, EBITDA and profit after tax for the six months period ended September 30, 2020 were Rs 9,163.13 million, Rs 1,362.11 million and Rs 747.78 million respectively.
Additionally, their sales (sale of goods) increased from Rs 15,891.60 million in Fiscal 2018 to Rs 21,361.64 million in Fiscal 2020. Despite cumulative capital expenditure of Rs 2,644.86 million over the past three years, towards inter alia, commissioning a new processing plant at Rajahmundry, acquisition of the processing plants at Batlagundu and Vedasandur from KC Dairy Products Private Limited, acquisition of the cattle feed and mixing plant by Orgafeed Private Limited at Kadapa and establishment of new VLCCs, their return on equity and return on capital employed for Fiscal 2020 were at 11.50% and 17.34% respectively.
Dodla Dairy Limited IPO – Promoters
The Promoter of this company are:
- *DODLASUNIL REDDY
- DODLA SESHA REDDY
- DODLA FAMILY TRUST
List of Related Parties (Key Managerial Personnel)
- Dodla Sunil Reddy, Managing Director
- Anjaneyulu Ganj, Chief Financial Officer
- Venkat Krishna Reddy Busireddy, Chief Executive Officer
- Ruchita Malpani, Company Secretary and Compliance Office
Competitive Strengths of Dodla Dairy Limited
- Experienced Board and senior management team.
- Financial Growth and operational efficiencies
- Stringent quality control procedures
Dodla Dairy Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to [●] Equity Shares of face value of Rs 10 each, aggregating to Rs 5201.8 million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Millions |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Millions |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 58,324,511 Equity Shares of face value of Rs 10each |
| Equity Shares outstanding after the Issue | [●] Equity Shares of face value of Rs 10 each |
Dodla Dairy IPO Issue Object
Their Company proposes to utilise the Net Proceeds towards funding the following objects:
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company
- Funding capital expenditure requirements of Company.
- General corporate purposes
Business strategies of Dodla Dairy Limited
- Enhance our brand visibility and expand the reach of our products
- Further strengthen our procurement and processing operations
- Expand our operations domestically and internationally by way of organic and inorganic growth
- Increase our revenues from dairy based VAPs
- Research and Development in dairy farming and allied activities
Dodla Dairy IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Consumer focused dairy company with a diverse range of products under the “Dodla Dairy” and “Dodla” brands.
- Integrated business model with well-defined procurement, processing and distribution capabilities.
- Focused engagement and long term relationship with dairy farmers.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | 8.96 , 8.96 | 11.50 | 77.87 |
| Mar-19 | 11.27 , 11.26 | 15.44 | 91.23 |
| 31-Mar-18 | 10.21 , 10.21 | 16.74 | NA |
Dodla Dairy Limited IPO : Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| Dodla Dairy Limited | 10 | [●] | 8.96 | 11.50 | 498.71 |
| Listed Peers | |||||
| Hatsun Agro Products | 1 | 102.3x | 6.99 | 12.41 | 1,122.72 |
| Heritage Foods | 5 | NA | (34.55) | (38.48) | (1,694.00) |
| Parag Milk Foods | 10 | 9.7x | 11.16 | 10.28 | 936.89 |
Dodla Dairy Limited IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited ICICI Centre, H.T. Parekh Marg Churchgate, Mumbai 400 020Maharashtra, India Tel: +91 22 2288 2460 E-mail: dodla.ipo@icicisecurities.com Investor grievance E-mail: customercare@icicisecurities.com Website: www.icicisecurities.com Contact Person: Rishi Tiwari / Anurag Byas Axis Capital Limited |
Dodla Dairy Limited IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited Selenium, Tower B, Plot No-31 and 32, Financial District, Nanakramguda, Serilingampally Hyderabad, Rangareedi 500 032 Telangana, India Tel:+91 40 6716 2222/ 180034 54001 E-mail: dodladairy.ipo@kfintech.com Investor grievance E-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact Person: M Murali Krishna SEBI Registration No.: INR000000221 |
Dodla Dairy IPO – Other Details
- Statutory Auditor – B S R & Associates LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – HDFC Bank Limited and ICICI Bank Limited
Dodla Dairy IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Dodla Dairy Limited IPO
Dodla Dairy Limited IPO News
News 1 – Dodla Dairy Limited IPO DRHP Download
Dodla Dairy IPO Review FAQs
What is the Issue Size of Dodla Dairy IPO?
The Company is making an initial public offer of NA equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Dodla Dairy IPO?
The price band for this particular IPO ranges between Rs 421 to Rs 428. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Dodla Dairy IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Jun 16, 2021, while the closing date is set at Jun 18, 2021.
What is the Dodla Dairy IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Jun 23, 2021, refund initiation is on Jun 24, 2021, credit of shares is on Jun 25, 2021, and share listing date is on Jun 28, 2021.
What is the Dodla Dairy IPO Listing Date?
Shares of this company shall be listed in the exchanges Jun 28, 2021. The date, when the listing would be done, is stagnant on Jun 28, 2021.
Who is the Registrar of Dodla Dairy IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Dodla Dairy IPO?
Here are the promoters of this IPO – DODLA SUNIL REDDY, DODLA SESHA REDDY, AND DODLA FAMILY TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Dodla Dairy IPO?
We have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Dodla Dairy IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Dodla Dairy Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Million is 498.71, 2019 is 627.62, 2018 is 568.54. PAT from Sep 2020 is 747.78.
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Market Guide
Featured Topics