Bookbuilding IPO | ₹356 Cr | Listed at BSE, NSE | Fri, Aug 28, 2015 - Fri, Sep 4, 2015
Prabhat Dairy IPO is a book build issue of ₹356.19 crores. The issue is a combination of fresh issue of 2.62 crore shares aggregating to ₹300.00 crores and offer for sale of 0.49 crore shares aggregating to ₹56.19 crores.
Prabhat Dairy IPO bidding started from Aug 28, 2015 and ended on Sep 4, 2015. The shares got listed on BSE, NSE on Sep 21, 2015.
Prabhat Dairy IPO price band is set at ₹115 per share. The lot size for an application is 102. The minimum amount of investment required by an retail is ₹12,852 (102 shares) (based on upper price). The lot size investment for sNII is 18 lots (1,836 shares), amounting to ₹2,11,140, and for bNII, it is 86 lots (8,772 shares), amounting to ₹10,08,780.
Edelweiss Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Prabhat Dairy IPO RHP for detailed Information.
IPO Open
Fri, Aug 28, 2015
IPO Close
Fri, Sep 4, 2015
Issue Price
₹115 per share
Market Cap (Pre-IPO)
₹1,123.44 Cr
| IPO Date | 28 Aug to 4 Sep, 2015 |
| Listed on | Mon, Sep 21, 2015 |
| Face Value | ₹10 per share |
| Price Band | ₹115 to ₹126 |
| Issue Price | ₹115 per share |
| Lot Size | 102 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 5.00 per share |
| Total Issue Size | 3,11,63,346 shares (agg. up to ₹356 Cr) |
| Fresh Issue | 2,62,47,421 shares (agg. up to ₹300 Cr) |
| Offer for Sale | 49,15,925 shares of ₹10 (agg. up to ₹56 Cr) |
| Share Holding Pre Issue | 7,14,28,710 shares |
| Share Holding Post Issue | 9,76,90,854 shares |
| BSE Script Code / NSE Symbol | 539351 / PRABHAT |
| ISIN | INE302M01033 |
Prabhat Dairy IPO comprises a total issue size of 3,17,39,442 shares. Out of which, 1,58,69,720 (50.00%) are allocated to QIB, 47,60,917 (15.00%) allocated to NII 1,11,08,805 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 1,58,69,720 | 50.00% | NA |
| NII (HNI) Shares Offered | 47,60,917 | 15.00% | NA |
| Retail Shares Offered | 1,11,08,805 | 35.00% | 1,08,909 |
| Total Shares Offered | 3,17,39,442 | 100.00% |
Investors can bid for a minimum of 102 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 102 | ₹11,730 |
| Retail (Max) | 17 | 1,734 | ₹1,99,410 |
| S-HNI (Min) | 18 | 1,836 | ₹2,11,140 |
| S-HNI (Max) | 85 | 8,670 | ₹9,97,050 |
| B-HNI (Min) | 86 | 8,772 | ₹10,08,780 |
Prabhat Dairy Limited is an integrated milk and dairy products company in India catering to institutional as well as retail customers. Prabhat Dairy produce fresh, dry, frozen, cultured and fermented dairy products, including pasteurized milk, flavoured milk, sweetened condensed milk, ultra-pasteurised or ultra-high temperature (UHT) milk, yoghurt, dairy whitener, clarified butter (ghee), milk powder, ingredients for baby foods, lassi and chaas.
Highlights:
1. As of March 15, 2015, Prabhat Dairy had an aggregate milk processing capacity of 1.5 million litres per day.
2. Integrated business model enables the company to leverage the dairy industry value chain, ensure efficiency in costs and operating margins and exercise more control over the production process resulting in quality products.
3. Sales of institutional products represented majority of its revenue.
4. Prabhat Dairy procure a majority of its raw milk requirements directly from milk farmers and registered milk vendors in the State of Maharashtra.
5. Company has established large, automated production facilities with advanced equipment at Shrirampur (Ahmednagar) and at Navi Mumbai.
Products:
1. Institutional Products:
Prabhat Dairy produce a range of milk and dairy products including milk-based specialty ingredient products and co-manufactured products for a large number of Indian and multinational companies.
The specialty ingredient products include nutrition supplements and formulations for baby food, sweetened condensed milk, partially skimmed milk, skimmed milk powder, skimmed milk preparations, full cream milk powder and specialty milk powder
The co-manufactured products include UHT milk, specialty milk powders, curd (dahi), clarified butter (ghee), flavoured milk, dairy whiteners, yogurts, processed and concentrated milk, and ice creams
2. Retail Consumer Products:
Prabhat Dairy's retail consumer products include pasteurized milk, UHT milk, flavoured milk, sweetened condensed milk, dairy whitener, milk powder, lassi, curd (dahi), chaas and clarified butter (ghee) sold under the Prabhat, Flava and Milk Magic brands.
| 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 | Part pre-payment of loans availed by our Company and its wholly owned subsidiary, SAIPL | 185.00 |
| 2 | To meet capital expenditure | 35.07 |
| 3 | General corporate purposes | 60.78 |
The Prabhat Dairy IPO is subscribed 0.77 times on September 4, 2015 5:00:00 PM (Day 6). The public issue subscribed 0.34 times in the retail category, 0.88 times in the QIB category, and 1.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.88 | 1,82,06,173 | |
| NII | 1.42 | 54,61,853 | |
| Retail | 0.34 | 1,27,44,322 | |
| Total | 0.77 | 3,64,12,348 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Managers’ fees and commissions (including underwriting commission, brokerage and selling commission) | 11.73 |
| 2 | Commission/processing fee for SCSBs and Bankers to the Issue | 0.02 |
| 3 | Brokerage and selling commission for Registered Brokers | |
| 4 | Registrar to the Issue | 0.05 |
| 5 | Other advisors to the Issue | 2.77 |
| 6 | Listing fees, SEBI filing fees, book building software fees | 1.63 |
| 7 | Printing and stationary | 1.95 |
| 8 | Advertising and marketing expenses | 4.25 |
| 9 | Miscellaneous | 0.75 |
BRLM to the Prabhat Dairy Limited issue, has informed the Exchange that the issue closure date has been extended upto 04 September,2015. Post issue modification date has been revised to 05 September,2015.Price band has been revised from 140/- to Rs. 147/- To Rs. 115/- to Rs. 126/- per share
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹115.00 | ₹115.00 |
| Open | ₹115.00 | ₹113.00 |
| Low | ₹112.40 | ₹112.00 |
| High | ₹120.00 | ₹119.95 |
| Last Trade | ₹116.35 | ₹115.95 |
Prabhat Dairy IPO is a main-board IPO of 3,11,63,346 equity shares of the face value of ₹10 aggregating up to ₹356 Crores. The issue is priced at ₹115 per share. The minimum order quantity is 102.
The IPO opens on Fri, Aug 28, 2015, and closes on Fri, Sep 4, 2015.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Prabhat Dairy IPO using UPI as a payment gateway. Zerodha customers can apply in Prabhat Dairy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Prabhat Dairy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Prabhat Dairy IPO opens on Fri, Aug 28, 2015 and closes on Fri, Sep 4, 2015.
Prabhat Dairy IPO lot size is 102, and the minimum amount required for application is ₹11,730.
You can apply in Prabhat Dairy 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 Prabhat Dairy IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Prabhat Dairy IPO allotment status.
The Prabhat Dairy IPO listing date is on Mon, Sep 21, 2015.
