Dindigul Farm Product Ltd Share Price – BSE

FMCG, Small Cap

Dindigul Farm Product will hold a meeting of the Board of Directors of the Company on 14 November 2024

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Dindigul Farm Product announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.

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Dindigul Farm Product will hold a meeting of the Board of Directors of the Company on 6 September 2024.

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The scrip was listed at Rs 102.60, a premium of 90% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 107.73 and a low of Rs 102.60. About 14.26 lakh shares of the company changed hands at the counter.

Dindigul Farm Product's IPO was subscribed 134.63 times. The issue opened for bidding on 20 June 2024 and it closed on 24 June 2024. The price band of the IPO was fixed between Rs 51 to Rs 54 per share.

The IPO comprised fresh issue of 64,50,000 equity shares. The promoter and promoter group shareholding diluted to 59.36% from 80.66% pre-offer.

The company intends to utilise the net proceeds to meet working capital requirement, funding capital expenditure and general corporate purpose.

Ahead of the IPO, Dindigul Farm Product on 19 June 2024, raised Rs 9.90 crore from anchor investors. The board allotted 18.34 lakh shares at Rs 54 per share to 5 anchor investors.

Dindigul Farm Product engaged in processing of milk and skimmed milk to create dairy ingredients like milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter, and fat-filled powders for infant milk formula. The company's processing facility, located in Dindigul, Tamil Nadu spans 15 acres. The company markets its products under the brand name EnNUTRICA, and supply to a wide number of customers from different industries. As of 23 December 2023, the company has 101 employees.

The company recorded revenue from operations of Rs 68.74 crore and net profit of Rs 5.88 crore for the period as on 23 December 2023.

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