Dodla Dairy, a leading dairy company in South India, has reportedly filed draft papers with capital markets regulator SEBI to float an initial public offering today.
Initial public offer (IPO) comprises fresh issuance of shares worth up to Rs 50 crore, besides, an offer for sale of up to 1,00,85,444 equity shares.
Moreover, proceeds from the issue will be used for payment of certain borrowings, purchase of equipments, and for general corporate purposes.
The company had previously filed an IPO for the purpose of raising an amount worth Rs.500 crore.
Currently, the sale offer comprises of shares amounting to Rs.83 lakh by TPG Dodla Dairy Holdings, along with 4,16,604 equity shares by promoter Dodla Sunil Reddy.
Further, it also includes equity shares of the value Rs.10,41,509 by promoter Dodla Family Trust, besides Rs.3,27,331 equity shares by promoter Dodla Deepa Reddy.
However, the company’s operations in India are majorly across the five south Indian states including Andhra Pradesh, Telangana, Karnataka and Tamil Nadu, Maharashtra.
Its international operations are based in Uganda and Kenya.
Also, it is reportedly the third highest in terms of milk procurement per day with an average procurement of 1.02 million litres of raw milk per day.
In terms of market presence, it is considered second highest across all of India amongst private dairy players.
As far its revenue is concerned from sale of milk and dairy, it has generated 72.81 percent and 27.18 percent, respectively.
This is in comparison to revenue in FY20, and 74.45 percent and 25.55 percent for a period of six months which ended in September 2020.
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