The issue received bids for 46,08,000 shares against the total issue size of 20,40,000 units.
The company intended to raise Rs 4.08 crore via fresh issue of 20,40,000 shares of the face value of Rs 10 each. The scrips will be issued at Rs 20 per share.
It would be one of the first manufacturers of dairy products to get listed on BSE’s SME platform.
Founded in 2013, the dairy company operates in four states where procurement, processing, and packaging of milk and milk products are carried out. The company procures about 11,40,000 litres of milk per day from over 2,40,000 dairy farmers. ICL offers different types of milk in pouches such as full cream milk, toned milk, standardised milk, double toned milk and (ultrahigh temperature processed) UHT milk.
