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ICL Organic Dairy Products IPO is a fixed price issue of ₹4.08 crores. The issue is entirely a fresh issue of 0.20 crore shares of ₹4.08 crore.
ICL Organic Dairy Products IPO bidding started from Jan 31, 2020 and ended on Feb 7, 2020. The allotment for ICL Organic Dairy Products IPO was finalized on Feb 11, 2020. The shares got listed on BSE SME on Feb 17, 2020.
ICL Organic Dairy Products IPO price is ₹20.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,40,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to ICL Organic Dairy Products IPO RHP for detailed Information.
| IPO Date | January 31, 2020 to February 7, 2020 |
| Listing Date | February 17, 2020 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 20,40,000 shares (aggregating up to ₹4.08 Cr) |
| Reserved for Market Maker | 1,02,000 shares Beeline Broking Ltd. (aggregating up to ₹0.2040 Cr) |
| Net Offered to Public | 19,38,000 shares (aggregating up to ₹3.88 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 39,61,696 shares |
| Share Holding Post Issue | 60,01,696 shares |
ICL Dairy IPO offers total 20,40,000 shares. Out of which 9,66,000 (47.35%) allocated to NII, 9,72,000 (47.65%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,02,000 (5.00%) |
| NII (HNI) Shares Offered | 9,66,000 (47.35%) |
| Retail Shares Offered | 9,72,000 (47.65%) |
| Total Shares Offered | 20,40,000 (100.00%) |
ICL Organic Dairy Products IPO opens on January 31, 2020, and closes on February 7, 2020.
| IPO Open Date | Fri, Jan 31, 2020 |
| IPO Close Date | Fri, Feb 7, 2020 |
| Tentative Allotment | Tue, Feb 11, 2020 |
| Initiation of Refunds | Wed, Feb 12, 2020 |
| Credit of Shares to Demat | Thu, Feb 13, 2020 |
| Tentative Listing Date | Mon, Feb 17, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Feb 7, 2020 |
Investors can bid for a minimum of 6,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,20,000 |
| Retail (Max) | 1 | 6,000 | ₹1,20,000 |
| HNI (Min) | 2 | 12,000 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2013, ICL Organic Dairy Products Ltd is engaged in all sorts of dairy business such as dairy farming, breeding of mammals, and animal husbandry. The company takes the animals either under an agreement or rent with any other person on profit sharing basis to deal with all kinds of products such as milk, cream, paneer, ghee and other by-products.
The company deals with milk contractors, dairymen, vendors, milers, dealers, and purveyors. The company is mainly active in Bareilly, Badaun, and Pilibhit districts of Uttar Pradesh. The company focuses on good quality milk and has a veterinary supporting staff to train the farmers.
The main work of the company is to collect the milk from other dairy farmers and its own facility and distribute it to dairy establishments, sweet shops and various households.
Competitive Strengths
1. Long-standing client base
2. Existing supplier relationship
3. Focus on a quality product
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 30-July-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 455.42 | 316.60 | 327.82 | 226.00 | |
| Total Revenue | 223.13 | 1,572.65 | 1,207.30 | 252.68 | |
| Profit After Tax | 4.83 | 27.62 | 34.93 | 5.03 | |
The market capitalization of ICL Organic Dairy Products IPO is ₹12.00 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 80 |
The Company ICL Organic Dairy Products IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company | 3.48 |
| 2 | Issue related expenses | 0.35 |
| 3 | General corporate purposes | 0.25 |
[Dilip Davda] IODPL has shown inconsistency in bottom lines despite growing top lines. The dairy business is highly fragmented. The company has tough competitions from big players with an established business. The issue appears aggressively priced. IODPL's financial performance has no match with the asking price. There is no harm in giving this issue a miss. Read detail review...
LM has decided for extention of ICL IPO till 7 Feb, 2020
| Listing Date | February 17, 2020 |
| BSE Script Code | 542935 |
| NSE Symbol | |
| ISIN | INE0AU701018 |
| Final Issue Price | ₹20 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹20.80 |
| Low | ₹19.80 |
| High | ₹21.80 |
| Last Trade | ₹21.80 |
ICL Organic Dairy Products Ltd.
A-105, 3rd Floor,
Sector-63,
Gautam Buddha Nagar
Noida, Uttar Pradesh, 201301
Phone: 0120-4319744
Email: cs@icldairy.com
Website: http://www.icldairy.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
ICL Organic Dairy Products IPO is a SME IPO of 20,40,000 equity shares of the face value of ₹10 aggregating up to ₹4.08 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on January 31, 2020, and closes on February 7, 2020.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in ICL Organic Dairy Products IPO using UPI as a payment gateway. Zerodha customers can apply in ICL Organic Dairy Products IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ICL Organic Dairy Products IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ICL Organic Dairy Products IPO opens on January 31, 2020 and closes on February 7, 2020.
ICL Organic Dairy Products IPO lot size is 6000, and the minimum amount required for application is ₹1,20,000.
You can apply in ICL Organic Dairy Products IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ICL Organic Dairy Products IPO will be done on Tuesday, February 11, 2020, and the allotted shares will be credited to your demat account by Thursday, February 13, 2020. Check the ICL Organic Dairy Products IPO allotment status.
The ICL Organic Dairy Products IPO listing date is on Monday, February 17, 2020.
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