Dodla Dairy Limited IPO to go live on 16th June, 2021

Dodla Dairy Limited has planned to bid its Initial Public Offering on 16th June, 2021. The Price Band of the Offer has been fixed at Rs 421 to Rs 428 per Equity Share. Offers can be made for a minimum of 35 Equity Shares and in multiples of 35 Equity Shares thereafter.

The IPO comprises of a fresh issue aggregating up to Rs 500 million and an Offer for Sale of up to 10,985,444 Equity Shares. The Offer for Sale encompasses up to 9,200, 000 Equity Shares by TPG Dodla Dairy Holdings Pte. Ltd., and up to 416,604 Equity Shares by Dodla Sunil Reddy and up to 1,041, 509 Equity Shares by Dodla Family Trust and up to 327,331 Equity Shares by Dodla Deepa Reddy.

The Offer is being made via the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended read with Regulation 31 of the SEBI ICDR Regulations and in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not over 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), given that our Company and the Selling Shareholders in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”).

One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, liable to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in compliance with SEBI ICDR Regulations. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remaining of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or more than the Offer Price. Nevertheless, if the aggregate demand from Mutual Funds is under 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be included to the remaining QIB Portion for proportionate allocation to QIBs.

Moreover, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not fewer than 35% of the Offer shall be available for allocation to RIBs in compliance with the SEBI ICDR Regulations, liable to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are mandatorily required to utilize the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank accounts (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors are not allowed to participate in the Offer through the ASBA process.

The Equity Shares offered through this Red Herring Prospectus are posited to be listed on BSE and NSE.

Axis Capital Limited and ICICI Securities Limited are the Book Running Lead Managers to the Offer.