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

Dodla Dairy had priced its IPO between Rs 421-428 per share, while KIMS had priced its between Rs 815 to Rs. 825 per equity share. Both IPOs close on Friday.

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.

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