IPO update: Dodla Dairy

Dodla Dairy came out with its IPO about ten weeks ago. Value Research's analysis of the IPO can be found here. In this follow-up article, we focus on the IPO's performance, post-IPO events and changes in its valuation since then. Our analysis of the IPO We gave a score of 17 out of 28 to this South India-based integrated dairy company when it came out with its IPO. The score was based on the company's vast reach, as it is the third-largest dairy company in terms of milk procurement, with an average procurement of 1.03 million litres of raw material per day. It is also the second-largest dairy company in terms of market presence in India. The company generates 75 per cent of its revenues by selling fresh milk, while the rest comes from other dairy-based value-added products, such as curd, ghee, butter, flavoured milk and ice cream, among others. The company's products are mainly marketed under the brand names of 'Dodla', 'Dodla Dairy' and 'KC+'. It has a very strong distribution and marketing channel across Andhra Pradesh, Telanga