IPO Alert! Dodla Dairy and KIMS Hospital offerings to close TODAY– what investors should know

IPO Alert: With the last day today to subscribe for two open initial public offerings, Dodla Dairy was subscribed 3.30 times, while Krishna Institute of Medical Sciences (KIMS Hospitals) subscribed 56 percent on the second day of subscription on Thursday. 

According to NSE Data, the Rs 520.17-crore initial public offer for Dodla Dairy received bids for 2,80,50,960 shares against 85,07,569 shares on offer. Qualified institutional buyers (QIBs) subscribed 28 per cent, non-institutional investors 60 per cent, and retail individual investors (RIIs) 6.18 times. 

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On the other hand, the offer for KIMS Hospital received bids for 80.52 lakh equity shares against an IPO size of 1.44 crore shares, the data available on exchanges showed. QIBs have seen a subscription of 32 per cent and non-institutional investors 9 per cent. 

While portion set aside for retail investors have put in bids of 1.95 times and employees' portion was booked 66 per cent, so far on Thursday. 

Dodla Diary IPO comprises a fresh issue of Rs 50 crore and an offer for sale of 1,09,85,444 equity shares. Similarly, KIMS Hospital offer comprises a fresh issue of Rs 200 crore and an offer for sale of Rs 1,943.74 crore by selling shareholders including General Atlantic Singapore KH Pte Ltd. 

The price range for the Dodla Dairy offer is fixed at Rs 421-428 per share and Rs 815-825 per equity share for KIMS Hospital. 

Dodla Dairy, a leading dairy company in southern India, on Tuesday, said it has raised a little over Rs 156 crore from anchor investors. It had said the proceeds will be used for payment of certain borrowings, funding capital expenditure requirement, and for general corporate purposes. 

While incorporated in 1973, KIMS Hospitals, one of the largest healthcare groups in Andhra Pradesh and Telangana, provides multi-disciplinary healthcare services with a key focus on primary, secondary, and tertiary care in tier two-three cities. 

Dodla Dairy'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 are the managers to the offer. 

As of March 2021, KIMS Hospital operates through nine multi-speciality hospitals with an aggregate bed capacity of 3,064 including over 2,500 operational beds.