Fixed Price IPO | ₹4 Cr | Listed at BSE SME | Fri, Jan 31, 2020 - Fri, Feb 7, 2020
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Jan 31, 2020
IPO Close
Fri, Feb 7, 2020
Issue Price
₹20 per share
Market Cap (Pre-IPO)
₹12.00 Cr
| IPO Date | 31 Jan to 7 Feb, 2020 |
| Listed on | Mon, Feb 17, 2020 |
| Face Value | ₹10 per share |
| Issue Price | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 20,40,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 1,02,000 shares Beeline Broking Ltd. (agg. up to ₹0.2040 Cr) |
| Fresh Issue (Ex Market Maker) | 19,38,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 19,38,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 39,61,696 shares |
| Share Holding Post Issue | 60,01,696 shares |
| BSE Script Code | 542935 |
| ISIN | INE0AU701018 |
ICL Organic Dairy Products IPO comprises a total issue size of 20,40,000 shares. The net offer to the public is 19,38,000 shares, after excluding 1,02,000 shares allotted on a firm basis. Of the Net offer 9,66,000 (49.85%) allocated to NII 9,72,000 (50.15%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,66,000 | 49.85% | 47.35% |
| Retail Shares Offered | 9,72,000 | 50.15% | 47.65% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,02,000 | 5.00% | |
| Total Shares Offered | 20,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company | 3.48 |
| 2 | Issue related expenses | 0.35 |
| 3 | General corporate purposes | 0.25 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 80 | |
| Promoter Holding | 72.71% | 47.99% |
| Market Cap | ₹12.00 Cr. |
The ICL Dairy IPO is subscribed 3.08 times on February 7, 2020 6:44:02 PM (Day 6). The public issue subscribed 2.59 times in the retail category, [.] times in the QIB category, and 3.56 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.56 | 9,69,000 | 34,50,000 |
| Retail | 2.59 | 9,69,000 | 25,14,000 |
| Total | 3.08 | 19,38,000 | 59,64,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission, Brokerage, Selling Commission and upload Fees, Registrar to the Issue, Legal Advisors etc. and other out of Pocket Expenses | 0.26 |
| 2 | Advertising and Marketing Expenses | 0.02 |
| 3 | Regulators Including Stock Exchanges | 0.05 |
| 4 | Printing and distribution of Issue Stationary | 0.02 |
LM has decided for extention of ICL IPO till 7 Feb, 2020
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹20.80 |
| Low | ₹19.80 |
| High | ₹21.80 |
| Last Trade | ₹21.80 |
Lead Manager Reports
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 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on Fri, Jan 31, 2020, and closes on Fri, Feb 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 Fri, Jan 31, 2020 and closes on Fri, Feb 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 Thu, Feb 13, 2020. Check the ICL Organic Dairy Products IPO allotment status.
The ICL Organic Dairy Products IPO listing date is on Mon, Feb 17, 2020.
