Dodla Dairy IPO To Open On June 16; Price Band Fixed At Rs 421-428 Per Share

Dodla Dairy's public offer will consist of a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 shares by the promoters

Dodla Dairy will launch its initial public offering (IPO) on June 16. The The Hyderabad-based company's public issue will be open for three days between June 16 and June 18, and the shares will be offered in the price band of Rs 421-428 per share. The shares are likely to be listed on the BSE and NSE on June 28. Dodla Dairy's public offer will consist of a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 shares by the promoters. The offer for sale consists of 92 lakh shares by investor TPG Dodla Dairy Holdings, 4,16,604 equity shares by Dodla Sunil Reddy, 10,41,509 equity shares by Dodla Family Trust and 3,27,331 equity shares by Dodla Deepa Reddy. Applicants can bid for a minimum one lot of 35 shares and in multiples of 35 shares thereafter, extending up to 13 lots.A total of 50 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail buyers and 15 per cent for non-institutional investors. The company will utilise the IPO proceeds to repay debt and for capital expenditure requirements.