Dodla Dairy raises Rs156 crore from anchor investors ahead of IPO
Premium- The IPO consists of a fresh issue aggregating up to Rs50 crore and an offer for sale of up to 10,985,444 equity shares by existing investors of the company
Dodla Dairy Ltd on Tuesday raised ₹156 crore from 18 anchor investors ahead of its initial public offer that opens for subscription on 16 June.
Investors that participated in the anchor allocation included DSP Small Cap Fund, Ashoka India Opportunities Fund, IIFL Special Opportunities Fund and Integrated Core Strategies Asia Pte Ltd, Kuber India Fund and Saint Capital Fund.
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The IPO consists of a fresh issue aggregating up to Rs50 crore and an offer for sale of up to 10,985,444 equity shares by existing investors of the company. The offer for sale consists of share sale by the promoters of the company and private equity investor TPG Capital.
The company plans to raise ₹520.17 crore at a higher end of the price band.
The net proceeds of a fresh issue will be utilized for repaying of certain borrowings availed by the company.
The price band of the IPO has been fixed at ₹421 to ₹428 per equity Share.
ICICI Securities Ltd and Axis Capital Ltd are managing the IPO.
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