Dodla Dairy
The Hyderabad-based Dodla Dairy will launch its initial public offering on June 16 and the issue will close on June 18. The company has fixed the issue price band at Rs 421-428 per share. IPO offer comprises a fresh issue of up to Rs 50 crore and an offer for sale of up to 1,09,85,444 equity shares by promoters and investors. Investors can bid for a minimum of 35 equity shares and in multiples of 35 equity shares thereafter. The offer for sale consists of 92 lakh equity shares by investor TPG Dodla Dairy Holdings, 4,16,604 equity shares by Dodla Sunil Reddy, 10,41,509 equity shares by Dodla Family Trust, and 3,27,331 equity shares by Dodla Deepa Reddy. Dodla Sunil Reddy, Dodla Family Trust, and Dodla Deepa Reddy are part of the promoter group.
The 50 percent of total issue size has been reserved for qualified institutional buyers, 35 percent for retail, and 15 percent for non-institutional investors. The Equity Shares are proposed to be listed on BSE and NSE. The company will utilise fresh issue proceeds for repaying the debt of Rs 32.26 crore, and for capital expenditure requirements of Rs 7.15 crore. TPG-backed Dodla Dairy had earlier filed IPO papers in 2018 to raise around Rs 500 crore and received Sebi nod but deferred listing plans.
Dodla Dairy is an integrated dairy company primarily deriving all of its revenue for FY20 and for the nine months period ended December 2020 from the sale of milk and dairy-based value-added products in the branded consumer market. It claims to be the third highest in terms of milk procurement per day with an average procurement of 1.03 million litres of raw milk per day as of March 31, 2021, and second highest in terms of market presence across all of India amongst private dairy players. The firm operates in primarily across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Maharashtra, while overseas operations are based in Uganda and Kenya.
Krishna Institute of Medical Sciences
Krishna Institute of Medical Sciences Limited (KIMS) will open its IPO on Wednesday, June 16 and the offer will close on Friday, June 18. The Price Band of the Offer has been fixed at Rs 815 to Rs 825 per Equity Share. The public issue comprises a fresh issue of up to Rs 200 crore and an offer for sale of up to 2,35,60,538 equity shares. The offer for sale consists of up to 1,60,03,615 equity shares by investor General Atlantic Singapore KH, 3,87,966 equity shares by Dr. Bhaskara Rao Bollineni, 7,75,933 shares by Rajyasri Bollineni, 3,87,966 shares by Bollineni Ramanaiah Memorial Hospitals, and 60,05,058 equity shares by other existing selling shareholders. The company has 267 shareholders, including General Atlantic, which held a 40.91 percent equity stake in KIMS Hospitals. The Equity Shares are proposed to be listed on both BSE and NSE.
Investors can bid for a minimum of 18 equity shares and in multiples thereafter. The offer includes a reservation of up to Rs 20 crore worth of shares for employees. The 75 percent of issue size has been reserved for qualified institutional buyers, 10 percent for retail, and the balance 15 percent for non-institutional investors. The fresh issue proceeds will be utilised for repayment of certain borrowings of Rs 150 crore, and general corporate purposes.
General Atlantic-backed KIMS Hospitals is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of a number of patients treated and treatments offered. The company operates 9 multi-specialty hospitals under the ‘KIMS Hospitals’ brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021.
