Dodla Dairy IPO GMP Today, Check Daily Movement


Dodla Dairy is approaching capital markets with its IPO which is scheduled to open for subscription on 16 June 2021. The offer’s dates clash with IPOs of KIMS, Sona Comstar and Shyam Metalics IPO. At the issue size of INR520.2 crore at the upper end of price band, it is the smallest IPO of the lot. Nevertheless, a 35% reservation for retail investors is a big positive. The south-based dairy player has already attracted strong demand in grey market. Here is a look at Dodla Dairy IPO GMP:

Dodla Dairy IPO details

Subscription Dates16 – 18 June 2021
Price BandINR421 – 428 per share
Fresh issueINR50 crore
Offer For Sale10,985,444 shares (INR462.49 – 470.18 crore)
Total IPO sizeINR512.49 – 520.18 crore
Minimum bid (lot size)35 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnNSE, BSE

Although the company’s PE ratio at the upper end of the pricing spectrum stands at 47.8 on FY2020 earnings, it has achieved tremendous savings in FY2021. Its annualized EPS for FY2021 stands at INR27.9 which translates into the PE range of 15.09 – 15.34. Its Return on Net Worth (RONW) for the latest nine months stood at 21.2%. These strong numbers is also a reason behind the exuberance in GMP rates which started at around 25% of the offer price.

Read Also: Shyam Metalics IPO explained in 10 points

Dodla Dairy IPO GMP (Grey Market Premium) rates

DateGMP (in INR)Kostak (in INR)Subject to Sauda (in INR)
25 June 202180
24 June 202170
23 June 202175
22 June 2021852502,000
21 June 2021802502,000
18 June 2021902002,500
17 June 2021902002,500
16 June 2021130
15 June 20211602503,500
14 June 20211602503,000
12 June 2021120
11 June 2021110

A look at the company’s financial performance in the recent years is enough to warrant this positivity. Dodla Dairy has a track record of profitable operations with growing revenues. Although profitability had been low, it has improved a lot in the latest nine months and let’s not forget that milk is a commodity product. Another strong point is the presence of private equity investors TPG and International Finance Corporation (IFC).

Dodla Dairy’s financial performance (in INR crore)

FY2018FY2019FY20209M FY2021
Comprehensive income58.165.054.8115.9
Margin (%)


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