Lets 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 ValueRs 10
Price BandRs 421 to Rs 428
Listing AtBSE, NSE
Min. Order Quantity35 Shares
Listing DateJun 28, 2021
Offer for SaleRs 4701.8 Millions
Fresh IssueRs 500 Millions
IPO SizeRs 5201.8 Millions
Tick Size1

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

dodla dairy limited IPOTheir 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 / DateQIBNIIRIITotal Subscription
1st Day – 16 Jun0.02x0.14x2.73x1.40x
2nd Day – 17 Jun0.28x0.60x6.18x3.30x
3rd Day –  18 Jun9.25x41.99x8.65x15.97x
Shares Offered or Net Issue2,430,7341,823,0514,253,7848,507,569

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 FinalizationJun 23, 2021
Refunds InitiationJun 24, 2021
Credit of Shares to Demat AccountJun 25, 2021
Share Listing DateJun 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


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 20Mar 2031-Mar 19Mar 18
Total Assets8,183.238,003.087,519.216,089.64
*Total Revenue9,182.2221,456.4916,994.5915,970.13
Total Expense8,124.8720,637.7816,061.7915,165.73
Profit After Tax747.78498.71627.62568.54

Earnings per Equity Share (in Millions)

Sep 20Mar 2031-Mar 19Mar 18
Basic 13.43
8.96
11.27
10.21
Diluted13.43
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:

  1. *DODLASUNIL REDDY
  2. DODLA SESHA REDDY
  3. 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 MakersUp to [●] Equity Shares aggregating up to Rs.[●]
Millions
Net Issue to the PublicUp to [●] Equity Shares aggregating up to Rs.[●]
Millions
Of which:
Retail Investors Portion Not less than [●] Equity Shares
Other than Retail Individual InvestorsNot more than [●] Equity Shares
 Equity Shares outstanding prior to the Issue58,324,511 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:

  1. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company
  2. Funding capital expenditure requirements of Company.
  3. 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 EPSRONW (%)NAV (Rs.)
31-Mar-208.96 , 8.9611.5077.87
Mar-1911.27 , 11.2615.4491.23
31-Mar-1810.21 , 10.2116.74NA

Dodla Dairy Limited IPO : Competitive Peers

Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)Total Income (Rs. in Crores)
Dodla Dairy Limited10[●]8.9611.50498.71
Listed Peers
Hatsun Agro Products1102.3x6.9912.411,122.72
Heritage Foods5NA(34.55)(38.48)(1,694.00)
Parag Milk Foods109.7x11.1610.28936.89

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
Axis House, 1st floor C-2
Wadia International Centre
P.B. Marg, Worli Mumbai 400 025Maharashtra, India
Tel:+91 22 4325 2183
E-mail:dodladairy.ipo@axiscap.in
Website: www.axiscapital.co.inInvestor
Grievance ID: complaints@axiscap.in
Contact Person: Pratik Pednekar
SEBI Registration Number: INM000012029

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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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    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.


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