IPO
Dodla Dairy raises Rs.156-Cr from 18 anchor investors
Hyderabad-based Dodla Dairy has raised INR 156 crore from 18 anchor investors ahead of its IPO. The firm allotted 36,46,099 lakh equity shares at the upper price band of INR 428 apiece, aggregating to INR 156.05 crore. Anchor investors included SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Edelweiss MF, Kuber India Fund, Saint Capital Fund and Integrated Core Strategies Asia Pte Ltd. Others were International Finance Corporation, Ashoka India Opportunities Fund, and IIFL Special Opportunities Fund. While DSP Small Cap Fund got 16.66% of the anchor investor portion of shares, Ashoka India Opportunities Fund was allocated 13.46%, IIFL Special Opportunities Fund 12.17% and SBI Magnum Midcap Fund 8.33%. The IPO comes at a price band of INR 421-428. It comprises a new issue aggregating up to INR 50 crore and an offer for sale of up to 1.09 crore equity shares, including 92 lakh shares held by TPG Dodla Dairy Holdings Pte. Ltd. The company will use a part of the proceeds to pay debts totalling INR 32 crore. Axis Capital and ICICI Securities are the investment bankers to the IPO.
From the Venture Intelligence PE-VC Deal Database: Between Nov-12 and Mar-21, Dodla Dairy had raised over $83-M from Cargill Ventures (exited), TPG Growth and IFC.
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