Stock market: Dodla Dairy and Kims made a strong start on the stock exchange today. Shares of Dodla Dairy opened at Rs 550 per share on the NSE, which is 122 or 28.50% above the Rs 422 distribution price. However, the shares of Dodla Dairy were listed at Rs 528 on the BSE, an increase of Rs 100 or Rs 23.26 on the IPO price. On the other hand, the KIMS starts at Rs 1,030, which brings the issue price to Rs 825.
Dodla Dairy is 11.33 times more expensive than retail investors, 84.88 times more from corporate buyers and 73.26 times more from non-institutional investors. Shares of Dodla Dairy rose to Rs 156 crore before the IPO. The proceeds from the distribution will be used by the company to repay certain loans and meet its needs.
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Dodla Dairy has a strong hold in the South Indian market. It has been reported in several reports that it is the third largest South Indian company in milk collection. At the same time, it holds the second largest position in market share. The company does business in Telangana, Andhra Pradesh, Maharashtra, Karnataka and Uganda and Kenya.
The IPO of Kims or Krishna Institute of Medical Sciences is subscribed 3.86 times. Besides the IPO, the company has raised Rs 950 crore through anchor investors. Kims gained 2.89 times for retail investors, 5.26 times for corporate buyers and 1.89 times for non-institutional investors. Kims has a good grip on the Andhra Pradesh and Telangana market.
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