 "IPO market")
The Rs 520 crore initial public offer (IPO) by Dodla Dairy will open for subscription on Wednesday. The public issue by the South India-based integrated dairy company is priced in the range of Rs 421-428 per share and comprises a fresh issue worth Rs 50 crore and an offer for sale of Rs 470 crore.
The IPO, analysts said, is valued at 16.5 times FY21 earnings and looks reasonable compared with peers, although some concerns on the earnings growth front linger. Most analysts have a 'subscribe' rating on the issue as they expect a rerating of valuations given Dodla Dairy's
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