Avendus Capital and Spark Capital Close TPG Rise Fund’s Stake Sale of 6.7% in Dodla Dairy
TPG Rise Fund sold its 6.7% (out of 9.8%) stake in Dodla Dairy worth USD 26 million (INR 205 crore) recently. The transaction was executed at INR 509 per share, a tight discount of 0.6% to 30th August’s closing price of INR 512.25 per share and was anchored by quality long term investors including Steinberg India Emerging Opportunities Fund, White Oak Capital and Plutus Wealth Management.
Avendus Capital and Spark Capital closed this stake sale for TPG Rise Fund.
About Dodla Dairy
Founded in 1995, Dodla Dairy is an integrated dairy company with the third largest procurement network in South India. The company processes and sells milk and produces dairy-based VAPs with an infrastructure of 15 processing plants, 3,000 distribution agents and 558 retail parlours spread across Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. Its product portfolio consists of milk, butter milk, ghee, curd, paneer, flavoured milk, doodh peda, icecream and sweets.
About TPG
Founded in 1995, Dodla Dairy is an integrated dairy company with the third largest procurement network in South India. The company processes and sells milk and produces dairy-based VAPs with an infrastructure of 15 processing plants, 3,000 distribution agents and 558 retail parlours spread across Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. Its product portfolio consists of milk, butter milk, ghee, curd, paneer, flavoured milk, doodh peda, icecream and sweets.
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