Noida based ICL Organic Dairy Product, a renowned manufacturer of dairy products’ IPO opens today. The company plans to raise up to Rs 4.08 Cr. through Initial Public Offering (IPO).
The IPO will comprise a fresh Issue of 20,40,000 shares of the face value of Rs.10 each. These scrips will be issued at Rs. 20 per share. The issue will close on February 4th,2020. Following the IPO, the firm is listed on the SME Platform of BSE Limited and is among the first few Start-ups to be listed on the platform.
Finshore Management Services is the Lead Manager for this issue.
Founded in 2013, ICL Organic Dairy Products Pvt Ltd is a renowned manufacturer of dairy products. The company operates in 4 states where procurement, processing, and packaging of milk and milk products are carried out. ICL has 11 processing plants and 65 milk chilling centers and the products are available in 9 states.
Commenting on the announcement, Mr. A.K. Gola, Director, ICL Organic Dairy Product said, “We are thrilled to be one of the first companies in Organic Dairy Industry to be listed on the SME Platform of BSE Limited. With this IPO, our vision is to scale up the business by expanding our team and market presence. I am certain to get a good response from our investors for this issue.”