Dodla Dairy IPO
Dodla Dairy Limited (DODLA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 28 June 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +37.4% (likely range +21% to +49%), day's high +44.9%, chance of a gain 92%. Actual: +28.5% at the open, +52.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 24,30,734 | 20,63,21,255 | 84.9x | |
| NII (HNI) total | 18,23,051 | 13,35,52,825 | 73.3x | |
| Retail | 42,53,784 | 4,81,90,870 | 11.3x | |
| Total | 85,07,569 | 38,80,64,950 | 45.6x |
Bids on NSE and BSE together, as published by NSE, as of 18 Jun 2021, 04:50 PM. Shares offered exclude the anchor portion. 9% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Dodla Dairy's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Prataap SnacksSep 2017 | 76.9x | 101x | 8.48x | 47.4x | ₹485 Cr | +35.4% | +40.6% |
| RailTel Corporation of IndiaFeb 2021 | 65.1x | 73.3x | 16.8x | 42.4x | ₹820 Cr | +16.0% | +36.0% |
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
| Polycab IndiaApr 2019 | 92.4x | 110x | 4.65x | 52.0x | ₹1,353 Cr | +17.7% | +24.1% |
| Route MobileSep 2020 | 89.8x | 193x | 12.7x | 73.3x | ₹609 Cr | +104.9% | +110.0% |
| RITESJun 2018 | 71.7x | 195x | 15.7x | 67.2x | ₹799 Cr | +2.7% | +21.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Axis Capital | 107 | +20.4% | 73% |
Offer documents (NSE)
Frequently asked
What is the Dodla Dairy IPO price band and lot size? ₹421–428 per share, with a lot of 35 shares, so the smallest retail bid is ₹14,980.
How many times has it been subscribed? 45.6x overall: QIB 84.9x, NII 73.3x, retail 11.3x.
How did it list? It opened at ₹550, +28.5% against the issue price of ₹428, and closed its first day +42.5%.
