Affle India, Dodla Dairy, 2 others get Sebi nod for IPO

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New Delhi, October 26, 2018: As many as four companies, including Affle India and Dodla Dairy, have received capital markets regulator Sebi’s go-ahead to launch their initial share-sale offerings.

The other two companies are — Chalet Hotels and Harsha Engineers.

With this, the total number of companies getting Sebi’s clearance to launch initial share-sale has reached 64 so far this year according to conomictimes.indiatimes.com

Dodla Dairy obtained the ‘observations’ from the Securities and Exchange Board of India (Sebi) on on October 17, while the other three firms received them on October 19, latest update with the capital markets watchdog noted.

These companies had filed their respective draft documents with the regulator between July and August seeking its clearance to float initial public offers (IPOs).

Sebi’s observations are necessary for any company to launch initial public offer, follow-on public offers (FPOs) and rights issue.

The company is expected to raise around Rs 650 crore through its IPO, merchant banking sources said.

Proceeds of the issue would be utilised to fund the working capital requirements of the company and for other general corporate purpose.

ICICI Securities and Nomura Financial Advisory and Securities (India) will manage the company’s public issue.

Affle is a leading global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.

Also, it provides end-to-end solutions for enterprises to enhance their engagement with mobile users, such as developing apps, enabling offline to online commerce for offline businesses with e-commerce aspirations and providing enterprise grade data analytics for online and offline companies.

The IPO of Dodla Dairy, a leading dairy company in South India, comprises fresh issuance of shares worth up to Rs 150 crore besides an offer for sale of up to 95,43,770 equity shares by TPG Dodla Dairy Holdings Pte Ltd and Dodla Deepa Reddy.

Proceeds from the issue will be used for payment of certain borrowings, purchase of equipment, and for general corporate purposes.

Edelweiss Financial Services and ICICI Securities will manage the company’s initial share sale.

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