Dodla Dairy, KIMS shares make strong debut on BSE, NSE

The shares of recently concluded IPOs, Dodla Dairy and KIMS, got listed today. Dodla Dairy shares were trading at ₹576 as compared to issue price of ₹428 while KIMS traded at ₹1,030 vs issue price of ₹825. The ₹530 crore IPO or the initial public offer of Dodla Dairy was subscribed 45.61 times. It received bids for 38,80,64,950 shares against 85,07,569 shares on offer.

The retail investors(RIIs) segment of Dodla Dairy was subscribed 11.33 times while the qualified Institutional Buyers(QIBs) category was subscribed 84.88 times, and non-institutional investors 73.26 times.

Dodla Dairy IPO comprised a fresh issue of ₹50 crore and an offer for sale of 1,09,85,444 equity shares. The share offering was in a price range of ₹421-428 per share. Ahead of the IPO, Dodla Dairy had raised ₹156 crore from anchor investors.

The proceeds from the issue will be used for payment of certain borrowings, funding capital expenditure requirements of the company, and for general corporate purposes.

The dairy company's operations in India are primarily across four states -- Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. Its international operations are based in Uganda and Kenya. ICICI Securities and Axis Capital were the managers of the offer.

The ₹2,144-crore IPO of KIMS or Krishna Institute of Medical Sciences was subscribed 3.86 times. Ahead of the IPO, it had mobilized over ₹950 crore from anchor investors. The portion meant for Qualified Institutional Buyers(QIBs) was subscribed 5.26 times, non-institutional investors 1.89 times, and retail individual investors(RIIs) 2.89 times. The price range for the offer was at ₹815-825 per share.

KIMS is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of number of patients treated and treatments offered. (With Agency Inputs)