Let’s have a detailed review of the company and analytics of the ICL Organic Dairy Limited IPO release date, IPO offer price, subscription, ICL Organic Dairy IPO allotment status, grey market premium price and other details like the company’s background, its financial positions, its promoters and other related things.
ICL Organic Dairy IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.8/10|
Summary of ICL Organic Dairy IPO
With the vision of participation in the Indian dairy sector, their Company was originally incorporated as “ICL Organic Dairy Products Private Limited” on February 21, 2013 under the provisions of the Companies Act, 1956 bearing Corporate Identification Number U74120UP2013PTC055187 issued by the Registrar of Companies, Kanpur, Uttar Pradesh.
Subsequently their company was converted into Public Limited Company and the name of their Company was changed to “ICL Organic Dairy Products Limited” vide a fresh Certificate of Incorporation dated January 23, 2019 bearing Corporate Identification Number U74120UP2013PLC055187 issued by the Registrar of Companies, Kanpur, Uttar Pradesh.
ICL Organic Dairy IPO – Financial Highlights
- In the year 2015, their company entered into an agreement with the promoters Avadhesh Kumar Gola and Roop Kishore Gola to use its mechanical dairy. The said agreement was valid till March 2019. With a vision to create its own fully mechanical dairy, the said agreement was not renewed further.
- Further on August 22, 2019, the company has acquired 128 cows from Roop Kishore Gola, Director and Promoter of the Company to provide improved quality milk and hygienic milk to premium customers
The Promoters of this company are MR. ROOP KISHORE GOLA and MR. AVADHESH KUMAR GOLA. The lead manager to the issue is FINSHORE MANAGEMENT SERVICES LIMITED. The Registrar to this issue is CAMEO CORPORATE SERVICES LIMITED.
ICL Organic Dairy IPO Dates / Launch Date
The opening and the closing date of ICL Organic Dairy IPO is Jan 31, 2020 – Feb 7, 2020.
ICL Organic Dairy IPO Subscription
|Day / Date||NII||RII||Total Subscription|
|1st Day – Jan 31||0.63x||0.11x||0.37x|
|2nd Day – Feb 3||2.58x||0.47x||1.52x|
|3rd Day – Feb 4||3.26x||1.49x||2.38x|
|4th Day – Feb 5||3.26x||1.49x||2.38x|
|5th Day – Feb 6|
|6th Day – Feb 7|
|Shares Offered or Net Issue||969,000||969,000||1,938,000|
The shares subscribed by the public will be updated here.
ICL Organic 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.
ICL Organic Dairy IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
|Basis of Allotment Finalization||Feb 7, 2020|
|Refunds Initiation||Feb 10, 2020|
|Credit of Shares to Demat Account||Feb 11, 2020|
|Share Listing Date||Feb 12, 2020|
ICL Organic Dairy IPO Price Band / Cash Price
The face value of each share is Rs.10,and the cash price of the IPO is Rs.20.
ICL Organic Dairy IPO Size
This Initial Public Issue of 20,40,000 Equity Shares of Rs.10 each for cash at a price of Rs.20 per equity share aggregating to Rs.408.00 lakhs.
ICL Organic Dairy IPO Share Offering
Fresh Issue: The Fresh Issue of 20,40,000 Equity Shares by their Company of Rs.10 each at a price of Rs.20 per equity share, including a share premium of Rs.10/- per equity aggregating to Rs.408.00 lakhs,
Net Issue : The Net Issue of 19,38,000 Equity Shares of Rs.10 each at Rs.20 per Equity Share, including a share premium of Rs.10/- per equity aggregating to Rs. 387.60 lakhs.
ICL Organic Dairy Limited – Company Overview
Their Company was incorporated in the year 2013, and promoted by Mr. Roop Kishore and Mr. Avadhesh Kumar Gola. Both the brothers Mr. Roop Kishore Gola and Mr. Avadhesh Kumar Gola belong to a farmer family and with a agricultural background they initiated the Dairy business and availed the benefit of Kamdhenu Yojna of Uttar Pradesh Government to set up the Dairy in 2013 at Bareilly.
ICL Organic Dairy Farming
During the year from 2013 till 2019 their company is only engaged in dairy farming with the main object to produce and extract milk from cow and distributing the same raw milk extracted from the cow and supplying it to Sweet Shops, Retailers, different establishments and households.
The company is mainly active in District of Bareilly and adjoining district of Badaun, a huge milk producer area as well as Pilibhit which is just 30 to 40 kms away from operational area and covered approximately 30 villages at present.
ICL Organic Dairy – Approach to Milk Production
The company has a team of veterinary supporting staff to educate the farmers on animal healthcare and clean milk production. This has enabled the farmer community to produce good quality milk. ICL enjoys goodwill among the milk producers for its fair price policy. The trained field staffs working at the front end is the core strength of the company.
ICL Organic Dairy Limited: Business strategies
- Focus on Increase in Volume of Sales
- Quality Assurance
- Increase geographical presence
- Leverage and enhance the ICL brand name
- Their Major Products, Services and Processes
- Improving operational efficiencies
- High Margin Products
- Leveraging their Market skills and Relationships
ICL Organic Dairy Ltd – Financial Statements
On the basis of Standalone statement:
|Amount (in INR & Lakhs)|
|Profit After Tax||436.36||2,762.43||3,493.22||503.55|
Earnings per Equity Share (in Lakhs)
|Amount (in INR & Lakhs)|
|Basic & Diluted||4.15||232.88||33.57|
ICL Organic Dairy IPO – Promoters
The Promoters of this company are:
- MR. ROOP KISHORE GOLA
- MR. AVADHESH KUMAR GOLA
List of Related Parties (Key Managerial Personnel)
- Mr. Anil Kumar Sahu, Whole Time Director cum CFO
- Ms. Neha Mittal, Company Secretary cum Compliance officer
Interest of Key Management personnel
The Key Management Personnel do not have any interest in their Company, except Mr. Anil Kumar Sahu (Whole Time Director & CFO) other than to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of business.
Interests of Promoter in property of their Company
None of their Promoters or Group Entities have any interest in any property acquired by their Company within two (2) years of the date of this draft prospectus or proposed to be acquired by it or in any transaction in acquisition of land or any construction of building or supply of machinery.
ICL Organic Dairy IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Up to 20,40,000 Equity Shares, aggregating up to Rs.408.00 Lakhs|
|Market Maker Reservation Portion||Up to 1,02,000 Equity Shares, aggregating to Rs.20.40 Lakhs|
|Net Issue||Up to 19,38,000 Equity Shares, aggregating up to Rs.387.60 Lakhs|
|Allocation to Retail Individual Investors for up to Rs. 2.00 lakh||9,72,000 Equity Shares of Rs.10/- each fully paid-up of their Company for cash at a price of Rs.20/- per Equity Share aggregating to Rs.194.40 Lakhs.|
|Allocation to other investors for above Rs. 2.00 lakh||9,66,000 Equity Shares of Rs.10/- each fully paid-up of their Company for cash at a price of Rs.20/- per Equity Share aggregating to Rs.193.20 Lakhs|
|Equity Shares outstanding prior to the Issue||39,61,696 Equity Shares|
|Equity Shares outstanding after the Issue||60,01,696 Equity Shares|
ICL Organic Dairy IPO Issue Object
These are the IPO Issue Objects of the company:
- To meet the working capital requirements of the company
- To meet the Issue Expenses
- General Corporate Purposes
ICL Organic Dairy Limited: Key Strength
- Experienced & Qualified Management Team
- Existing Client Base
- Existing Supplier Relationship
- Their Brand Names
ICL Organic 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:
- Established and proven track record;
- Leveraging the experience of their Promoters;
- Experienced management team and a motivated and efficient work force;
- Cordial relations with their customers
- Quality Assurance & Control
ICL Organic Dairy IPO – Quantitative Factors
|Basic & Diluted EPS||RONW in %||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Price band of Rs.10 to Rs.20 per Equity Share
ICL Organic Dairy Limited : Competitive Peers
|Face Value (Rs.)||NAV per share (Rs.)||EPS (Basic) (Rs.)||P/E Ratio||Return on Net Worth (%)|
|ICL Organic Diary Limited||10.00||4.15||26.26||4.82||9.36|
|Parag Milk Foods||10.00||14.50||103.90||10.60||15.80|
ICL Organic Dairy IPO Lead Managers
|FINSHORE MANAGEMENT SERVICES LIMITED|
Anandlok”, Block-A, 2nd Floor, Room No. 207, 227 A.J.C Bose Road,
Kolkata-700020, West Bengal
Telephone: +91 – 33 – 22895101
Investor Grievance Email: email@example.com
Contact Person: Mr. S. Ramakrishna Iyengar
SEBI Registration No: INM000012185
CIN No: U74900WB2011PLC169377
ICL Organic Dairy IPO Registrar to Offer
|Registrar to the Offer|
|CAMEO CORPORATE SERVICES LIMITED|
“Subramanian Building”, #1, Club House Road,
Chennai – 600 002, India
Telephone: +91-44-40020700, 28460390
Contact Person: Mr. R.D. Ramasamy, Director
SEBI Registration Number: INR000003753
CIN No: U67120TN1998PLC041613
- Statutory Auditor – SAROJ KUMAR JHA & ASSOCIATES
- Legal Counsel to the Company – BHUPENDRA S. BHADANA, (MBA, LLB, Advocate)
- Bankers to the Company – ICICI BANK LIMITED
ICL Organic Dairy IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promoters Reputation|
ICL Organic Dairy IPO Grey Market Premium
The ICL Organic Dairy IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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