Incorporated in 1995, Dodla Dairy Limited is an integrated dairy company in South India that is engaged in the procurement, processing, distribution, and marketing of milk and other dairy products. It processes and sells milk including standardized, toned, and double toned milk, and produces dairy products like curd, butter, ghee, ice cream, flavoured milk, etc.
Its Indian operations are mainly undertaken under the brand name of "Dodla", "Dodla Dairy", and "KC+" whereas it serves overseas market under the brand name of "Dodla Dairy", "Dairy Top", and "Dodla+". Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, and Maharashtra are the key Indian market segments served by the company while in the overseas market, it mainly serves countries like Uganda and Kenya.
It has a total of 13 processing plants to process raw material into packaged milk and manufacture dairy-based value-added products. The firm has a strong distribution network of 40 sales offices, 3336 distribution agents, 863 milk distributors, and 449 product distributors across 11 states in India.
Competitive strengths
- Large product portfolio.
- Leading dairy player in the Southern region of India.
- Strong distribution network.
- Integrated business model with stringent quality control procedure.
- Experienced board and managerial team.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Repayment and/ or pre-payment, in full or part, of certain borrowings availed by our Company from ICICI Bank Limited, the Hongkong and Shanghai Banking Corporation Limited and HDFC Bank Limited | ₹32 |
| 2 Funding incremental capital expenditure requirements of our Company | ₹7 |
| 3 General corporate purposes | ₹11 |
| Metric | 31-Dec-20 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Total Assets | 864 | 800 | 752 |
| Revenue | 1,417 | 2,146 | 1,699 |
| PAT | 116 | 50 | 63 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 6,076,833 (50%) | — |
| NII / HNI | — | 1,823,051 (15%) | — |
| Retail (RII) | — | 4,253,784 (35%) | — |
| Total | — | 12,153,668 (100%) | — |
* Amount calculated at upper price band (₹428) · ** Total includes all investor categories
- 1 Initiation of Refund 24 Jun 2021
- 2 Credit of Shares to Demat 25 Jun 2021
- 3 Lock-in Period (30%) July 23, 2021
- 4 Lock-in Period (50%) September 21, 2021
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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