Dodla Dairy IPO Details

Dodla Dairy IPODodla Dairy IPO description – Dodla Dairy is an integrated dairy company based in south India. The company claims to be the third highest in terms of milk procurement amongst private dairy players in the southern region. The company’s average procurement is of 1.02 million litres of raw milk per day as of 31 December 2020. Its operations in India are primarily spread across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra while overseas operations are based in Uganda and Kenya. It sells milk and value added products (VAP) such as curd, Ultra-High Temperature processed (UHT) milk, ghee, butter, flavoured milk and ice cream under Dodla Dairy, Dodla and KC+ brands. Revenue from sale of milk and dairy based VAPs constituted 72.8% and 27.2% respectively, of its total revenues in FY2020. 

The company’s 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. Milk is procured from approximately 114,920 farmers through 6,624 Village Level Collection Centres (VLCCs), 254 dairy farms (farmers rearing multiple cattle for supplying raw milk in bulk quantities) and third party suppliers as of 31 December 2020.

Promoters of Dodla Dairy – Dodla Sunil Reddy, Dodla Sesha Reddy and Dodla Family Trust
Dodla Dairy IPO details
Subscription Dates 16 – 18 June 2021
Price Band INR421 – 428 per share
Fresh issue INR50 crore
Offer For Sale 10,985,444 shares (INR462.49 – 470.18 crore)
Total IPO size INR512.49 – 520.18 crore
Minimum bid (lot size) 35 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

Dodla Dairy Performance (in INR crore)

  FY2018 FY2019 FY2020 9M FY2021
Revenue 1,597.0 1,699.4 2,145.6 1,417.0
Expenses 1,516.6 1,606.2 2,063.8 1,254.9
Comprehensive income 58.1 65.0 54.8 115.9
Margin (%) 3.6 3.8 2.6 8.2

Registrar of Dodla Dairy IPO

KFin Technologies Private Limited Selenium Tower B, Plot 31-32, Gachibowli, Nanakramguda, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551
Email: [email protected] Website: www.kfintech.com

Dodla Dairy Contact Details

Dodla Dairy Limited
8-2-293/82/A/270-Q
Road No. 10-C, Jubilee Hills
Hyderabad – 500 033, Telangana
Phone: +91 40 4546 7777
Email: [email protected]
Website: www.dodladairy.com

Valuation of Dodla Dairy (as of FY2020)

Earnings Per Share (EPS): INR8.96
Price/Earnings (PE ratio): 46.99 – 47.77
Return on Net Worth (RONW): 11.5%
Net Asset Value (NAV): INR77.87 per share

Dodla Dairy IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 24,30,734 0.02 0.28 84.88
NII 18,23,051 0.15 0.60 73.26
Retail 42,53,784 2.73 6.17 11.34
         
Total 85,07,569 1.41 3.30 45.62

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Dodla Dairy IPO Allotment Status

Dodla Dairy IPO allotment status is now available on KFin Technologies’ website. Click on this link to get allotment status.

Listing Performance of Dodla Dairy

IPO Opening Date: 16 June 2021
IPO Closing Date: 18 June 2021
Finalisation of Basis of Allotment: 23 June 2021
Initiation of refunds: 24 June 2021
Transfer of shares to demat accounts: 25 June 2021
Listing Date: 28 June 2021
Opening Price on NSE: INR550 per share (up 28.5% from IPO price)
Closing Price on NSE: INR609 per share (up 42.29% from IPO price)

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