Coronavirus | Dodla Dairy IPO gets subscribed 45x on Day 3, KIMS 3.8x

The initial public offer (IPO) of Dodla Dairy garnered an enthusiastic response; the IPO was subscribed 45 times on Friday. The institutional portion was subscribed 85 times, the wealthy investor portion was subscribed 73 times, and the retail portion was subscribed 11.3 times. Dodla Dairy had priced its IPO between Rs 421-428 per share.

Edited by: Alejandro Maurino
The Dairy Times

The company intends to utilise the proceeds of the fresh issue to repay its debts and funding capital expenditure. Dodla Dairy sells milk and dairy-based value-added products such as curd, ghee, butter, flavoured milk, and ice cream.

The company’s operations in India are primarily across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra. And their overseas operations are based in Uganda and Kenya. On Tuesday, the company raised Rs 156 crore from 18 anchor investors.

Compared to Dodla, the response to the IPO of hospital chain Krishna Institute of Medical Sciences (KIMS) was somewhat tepid. Overall the issue was subscribed 3.8 times. The institutional bucket was subscribed 5.2 times, the wealthy investor portion by 1.8 times, the retail portion by 2.9 times and the portion reserved for employees was subscribed 1.06 times according to the reports published in business-standard.com.

KIMS had priced its Rs 2,143 crore IPO between Rs 815 to Rs. 825 per equity share. KIMS is one of the largest corporate healthcare groups in AP and Telangana and operates nine multi-specialty hospitals. It provides a range of healthcare services across over 25 specialties and super specialties. Both the IPOs closed on Friday.

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Topics |
Coronavirus, Dairy, Dairy businesses

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