Dindigul Farm Product Ltd IPO

Established in 2010, the company is primarily engaged in processing of whole milk and skimmed milk to make dairy ingredients including, milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream and butter and fat filled powders for infant milk formula. Its processing facility is situated at Dindigul and is spread over 15 acres. Its management system has been assessed and determined to comply with the requirements of FSSC 22000. The Company is also follow and comply with requirements of various relevant authorities in its industry such as FSSAI, Halal, Kosher, Export Import Council of India, Europe Regulations in respect of certain of its products. The Company has also obtained registration cum membership certificate from APEDA.

Open Demat Account

50years

Dindigul Farm Product Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
64.5 LTBA21.44 L110.41 LBSE₹ 34.83 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
20 Jun, 2424 Jun, 242000 ₹ 1,02,000 Book Building - SME27 Jun, 24

Dindigul Farm Product Ltd IPO Dates

  • 20 Jun 2024

    Opening date

  • 24 Jun 2024

    Closing date

  • 25 Jun 2024

    Basis of
    Allotment

  • 26 Jun 2024

    Initiation of
    Refunds

  • 26 Jun 2024

    Credit of
    Shares

  • 27 Jun 2024

    Listing date

Details

SectorType
SectorFood - Processing - Indian
Sub SectorNA
Issue TypeBook Building - SME

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB58.34x3060000178526000
NII280.41x920000257980000
Retail201.44x2144000431894000
Employee0x00
Total134.64x6450000868400000

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Dindigul Farm Product Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations7.11-2.13-2.26
EBITDA9.05-0.100.10
PAT5.17-4.17-4.62
Total Assets15.7012.4614.93
Share Capital14.3814.3814.38
Total Borrowings11.408.188.36
Operating Activities (Net Cash)7.11-2.14-2.26
Investing Activities (Net Cash)0.220.030.58
Financing Activities (Net Cash)11.408.188.36
Net Cashflow0.050.030.59

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Dindigul Farm Product Ltd

Dindigul Farm Product Limited was originally incorporated as Dindigul Farm Product Private Limited as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated September 29, 2010 issued by Registrar of Companies, Coimbatore. Further the company was converted from private limited company to public limited company pursuant to special resolution passed by its shareholders in the Extra-Ordinary General Meeting held on December 01, 2023 and consequently, the name of the company was changed from Dindigul Farm Product Private Limited to Dindigul Farm Product Limited and fresh certificate of incorporation dated December 27, 2023 was issued to the company by the Registrar of Companies, Coimbatore. The Corporate Identification Number of the company is U15200TZ2010PLC016407.

The Dairy sector in India has grown substantially over the years. As a result of prudent policy interventions, India ranks first among the world's milk producing nations, achieving an annual production of 221.06 million tonnes during the year 2021-22 as compared to 209.96 million tonnes during 2020-21 recording a growth rate of 5.29%. FAO Food Outlook (November 2022) reported 1.34% increase in world milk production from 912.6 million tonnes in 2020 to 924.8 million tonnes in 2021 (estimates). This represents a sustained growth in the availability of milk and milk products for the growing population. Dairying has become an important secondary source of income for millions of rural families and has assumed the most important role in providing employment and income generating opportunities particularly for women and marginal farmers. The per capita availability of milk has reached a level of 444 grams per day during the year 2021-22 which is more than the world average of around 320 grams per day in 2021 (estimates) (Food Outlook Nov'22). Most of the milk in the country is produced by small, marginal farmers and landless labourers. India, about 46% of the milk produced is either consumed at the producer level or sold to nonproducers in the rural area, he balance 54% of the milk is available for sale to organised and unorganised players. Organised sector comprise of Government, Producers' Owned Institutions (Milk Cooperatives & Producer Companies) and Private players which provides fair and transparent system of milk collection round the year at the village level. Unorganized/ informal sector involves local milkman, dudhias, contractors etc. and they are mostly found to be opportunistic, as there is no uniformity of milk price paid to producers and it varies depending upon the situation. Possibility of adulteration of milk is higher among these unorganized groups. In the areas where competition is high and presence of formal sector is strong, they generally give higher prices and at the same time, they don't offer remunerative prices to the producers where organized sector is not present.

Peer Comparison:

  • Dodla Dairy Ltd
  • Parag Milk Foods Ltd
  • Modern Dairies Ltd

Dindigul Farm Product Ltd IPO Key Points

Strengths

  • Diverse product basket.
  • Milk procurement process.
  • State of the art infrastructure.
  • Experienced Promoters and Management Team.

Risk

  • The company has incurred net losses during Fiscal 2022 and Fiscal 2021 and its inability to achieve profitability in future may have an adverse effect on its operations. Further the company had negative networth for the past three fiscal years.
  • Any increase in the cost of its raw material or a shortfall in the supply of the company raw materials, may adversely affect the pricing and supply of its products and have an adverse effect on the company's business, results of operations and financial condition.
  • Real or perceived product contamination could result in reduced sales, product liability and damage to its reputation, and subject it to regulatory action.

Strategy

  • Continue to invest in its manufacturing capabilities thereby expanding its offerings.
  • Expand its presence across geographies and diversify its customer base.
  • Enhance its brand visibility.
  • Focus on increasing operational efficiencies to improve returns.
  • Diverse product basket.
  • Milk procurement process.
  • State of the art infrastructure.
  • Experienced Promoters and Management Team.

How To Apply for Dindigul Farm Product Ltd Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Dindigul Farm Product Ltd's IPO offers shares for up to ₹ 0 L It begins on Jun 20, 2024 and ends on Jun 24, 2024.

The price of Dindigul Farm Product Ltd IPO ranges between ₹51 to ₹54 per share.

The Dindigul Farm Product Ltd IPO opens on Jun 20, 2024 and closes on Jun 24, 2024.

The allotment for the Dindigul Farm Product Ltd IPO will be finalised on Jun 25, 2024. The shares will be listed on BSE and NSE on Jun 27, 2024.

The minimum lot size for Dindigul Farm Product Ltd IPO is 2000 shares, priced between ₹51 to ₹54 per share.

The GMP (Grey Market Premium) of Dindigul Farm Product Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Dindigul Farm Product Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Dindigul Farm Product Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jun 20, 2024, and closes on Jun 24, 2024. The allotment is finalised on Jun 25, 2024.

To apply for the Dindigul Farm Product Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.