Tasty Dairy Specialities Ltd is engaged in processing milk, along with bulk milk procurement and handling during season time which primarily caters to bulk and marquee institutional customers. This company is further involved in value-added milk products like Skimmed Milk Powder, Butter, Ghee, Dairy Whitener, Concentrated Milk etc. Tasty Dairy is going to be listed on the exchanges through their public issue to be open for applying from tomorrow. This post will check the draft red herring prospectus and will also check the issue date, issue price to present you with the Tasty Dairy Specialities Ltd IPO Review.
About Tasty Dairy Specialities Ltd IPO :
- IPO Opens on – February 7,2018.
- IPO Closes on – February 12,2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 45 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 3000 shares.
- Minimum Order Quantity – 3000 shares.
- Issue Size – 5,430,000 Equity Shares of Rs 10 aggregating up to Rs 24.44 Cr.
- Listing Exchange – BSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- To meet Working Capital Requirements.
- General Corporate Purposes.
- To meet the Issue Expenses.
About The Company –
- Tasty Dairy Specialities Ltd is incorporated in 1992.
- The range of quality dairy products which includes Pasteurized Liquid Milk, Cream, Butter (White/Salted), Pure Desi Ghee (Clarified Butter), Paneer (Fresh Cottage Cheese), Skimmed Milk Powder, Full Cream Milk Powder, Dairy Whitener, Instant Gulab Jamun Mix, Peda (an Indian Sweet), Mithai Powder etc.
- This company are packaged their product under the brand names “UJJWAL”, “SHIKHAR”, “VERIFRESH”, “CIMA”, “MITHAI MASTER” and are available in Uttar Pradesh, Madhya Pradesh and Bihar.
- Tasty Dairy Specialities Ltd is currently processing approximately 5,00,000 liters of raw milk which comprises of 1,60,000 liters of milk packaging, 20,000 liters of buttermilk packaging, 2,20,000 Litres of Skimmed Milk Powder and Ghee and 2,00,000 liters of bulk milk processing.
- This company’s customer base includes Delhi Milk scheme (a Central Government of India Organisation), Mother Dairy (wholly owned subsidiary of the National Dairy Development Board (NDDB)), Parle Products, Sterling Agro Industries Limited, Kwality Dairy Limited, Perfetti Van Melle etc.
Promoters of the company :
- Mr. Atul Mehra, aged 55, is the Promoter and Whole Time Director of this company.
- Mr. Prem Nandan Mehra, aged 80 years, is the Promoter and Executive Director of this company.
- Mrs. Sonia Mehra, aged 50 years, is the Promoter of this company.
Tasty Dairy Specialities Ltd IPO Review: The company had shown a steady financial performance over the years. Though the profits have not increased heavily, they have not declined either. The company also has a steady client base for their B2B section. The issue is fully priced at the issue price of Rs. 45 per equity share. Our Tasty Dairy Specialities Ltd IPO Review has a POSITIVE view on this issue. But, on the other hand, due to the recent correction from the all-time highs, the listing can be affected by the correction. Hence, we advise risk savvy investors to invest for the medium to long-term.