Dodla Dairy files IPO papers with SEBI, aims to raise around Rs 800 crore

Dodla Dairy, the south based dairy firm has filed its draft red herring prospectus with SEBI for launching its Initial Public Offering. The issue size is expected to be around 800 Crores as per sources.

The public issue is expected to comprise a fresh issue of around Rs 50 Crores by the company and an offer for sale of around 1,00,85,444 equity shares from the promoters and an investor, as announced by the company in the Draft Red Herring Prospectus which was filed on 15th February.

The net fresh issue proceeds will be used by the company for repayment of debts and capital expenditure. The company has filed IPO papers in 2018 as well for raising Rs 500 Crores.

Dodla dairy is based in South India and is an integrated dairy company. The main revenue of the company is derived from the sale of mil and dairy based value-added products.

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