Dodla Dairy, a leading dairy company in South India, today filed draft papers with capital markets regulator Sebi to float an initial public offering.
The initial public offer (IPO) comprises fresh issuance of shares worth up to Rs 150 crore, besides, an offer for sale of up to 95,43,770 equity shares by TPG Dodla Dairy Holdings Pte Ltd and Dodla Deepa Reddy, according to the draft papers filed with Sebi.
Proceeds from the issue will be used for payment of certain borrowings, purchase of equipments, and for general corporate purposes.
Edelweiss Financial Services and ICICI Securities will manage the company's initial share sale. The equity shares will be listed on NSE and BSE.
The company's operations in India are primarily across the four south Indian states of Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Its international operations are based in Uganda and Kenya.
Earlier in 2015, Prabhat Dairy came out with its IPO.
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