Dodla Dairy has planned to raise the capital from the IPO. In this regard, the company has applied to market regulator Sebi on Thursday. Dodla is one of the major dairy companies in South India.
According to draft papers submitted to SEBI, the company will issue fresh shares of 150 crore. Apart from this, existing promoters of the company will also offer 95,43,770 shares of their share for sale. The current promoters of the company include TPG Dodla Dairy Holdings Pte Ltd and Dodla Deepa Reddy.
According to the company, the income generated from the IPO is to repay its debt and buy new equipment. In addition, Company will use this fund get fulfil general corporate needs.
The company is mainly active in the states of South India. Most of its customer base comes from Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. The company is also active in overseas markets. Kenya and Uganda are the main markets for the company.
For the last three years, there has been no dairy company’s IPO. In year 2015, Prabhat Dairy had introduced its IPO. Apart from Parag Milk Foods, Hatson Agro, Quality Heritage Foods are other listed dairy companies.
Edelweiss Financial Services and ICICI Securities will lead or promotors of this initial share sale. Dodla Dairy ipo shares will be listed on NSE and BSE.