Dodla Dairy, KIMS IPO Subscription Updates: Day 1
The CNX Nifty logo is displayed on a glass facade at the NSE in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Dodla Dairy, KIMS IPO Subscription Updates: Day 1

Retail investors lapped up shares of Dodla Dairy Ltd. on the first day of its initial public offering, while Krishna Institute of Medical Sciences’ offering received muted response from investors. Both the initial share sales close on June 18.

The IPOs are the third and fourth issues this week—after Sona Comstar Ltd. and Shyam Metalics Ltd.

Krishna Institute of Medical Sciences IPO

General Atlantic-backed hospital chain KIMS was subscribed 0.27 times as of 5 p.m. on June 16, according to exchange data.

KIMS has set the price band of its shares at Rs 815-825 apiece. The company plans to raise up to Rs 2,144 crore in its initial share sale.

Also read: KIMS IPO: All You Need To Know

Subscription Details

  • Institutional subscription: 0.14 times.
  • Non-institutional investor subscription: 0.02 times.
  • Retail subscription: 1 times.
  • Employees: 0.27 times.

The south India-based healthcare company’s IPO comprises a fresh issue worth Rs 200 crore and an offer-for-sale by a General Atlantic entity, General Atlantic Singapore KH Pte Ltd., to divest 2.35 crore shares.

The company plans to use Rs 150 crore from the new stock issue to pare debt.

Axis Capital, Kotak Mahindra Capital, Credit Suisse Securities, IIFL Securities are the book running lead managers for the IPO.

Research Reports On KIMS IPO

Dodla Dairy IPO: Day 1

The issue was subscribed 1.40 times as of 5 p.m. on June 16. Dodla Dairy is selling shares at Rs 421-428 in its Rs 520-crore IPO.

The maiden offer comprises a fresh issue worth up to Rs 50 crore and an offer-for-sale of up to 1.09 crore equity shares by promoters and private equity investors such as TPG, according to its red herring prospectus.

Also read: Dodla Dairy IPO: All You Need To Know

Subscription Details:

  • Institutional subscription: 0.02 times.
  • Non-institutional investor subscription: 0.14 times.
  • Retail subscription: 2.73 times.
  • Employees: 0.00 times.

The company will use proceeds from the fresh issue to repay or prepay, in full or part, of certain borrowings availed from ICICI Bank Ltd., HSBC Bank and HDFC Bank Ltd. worth Rs 32.26 crore; and fund incremental capital expenditure requirements of Rs 7.15 crore.

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