ICL Organic Dairy Products Limited
Three Hundred and Eighteenth Company to get listed on BSE SME Platform
Mumbai, 17th February 2020: SEBI came out with detailed guidelines on 18th May, 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March, 2012.
ICL Organic Dairy Products Limited became 318th company to get listed on the BSE SME Platform on February 17, 2020. ICL Organic Dairy Products Limited came out with an initial public offering of 20,40,000 Equity Shares of Rs.10/- Each (“Equity Shares”) For Cash At a Price Of Rs. 20/- Per Equity Share (The “Offer Price”), Aggregating to Rs. ‘408.00’ lacs. The company has successfully completed its public issue on 7th February, 2020.
ICL Organic Dairy Products Limited is an Uttar Pradesh based company whose registered office is at Noida.
Kolkata based Finshore Management Services Limited was the lead manager to ICL Organic Dairy Products Limited. The Core business is as follows: 1. To carry on the business of all kinds of dairy farming, animal husbandry, breeding of mammals (e.g. Cow, Buffalos) whether owned by the company or any other person, take these animals on rent or under an agreement of profit sharing and producing, preserving and dealing in all kinds of product of such business and in particular, milk, ghee, paneer, cream, ice-cream and other milk products its by-products and for that purpose own, acquire on owner-ship or rental/lease piece of land to set up dairy farm anywhere in India and also set up facilities for experiments test and research for developing better qualities of milk, milk products and its by-products. 2. To cultivate, grow, produce, and develop meadow for grazing/feeding animals and keep sufficient supply of animal feeds and for that purpose enter into agreement, collaboration and to do all such things as may be necessary to carry on the business of dairymen, milk contractors, dairy foreman, millers, purveyors and vendors of milk, cheese, butter, poultry and provisions of all kinds, growers of, and dealers in corn, hay and straw, seeds men, and to buy, sell and trade in any goods which is usually traded in any of the above businesses. 3. To cultivate, grow, produce or deal in any agriculture, vegetable or fruit products, food items, Vegetable oils, oil cakes and by products thereof and to carry on the activities of land development and other activities associated with the farming interests.
The 318 companies listed on BSE SME Platform have raised Rs. 3,304.22 crores from the market and total market capitalization of 318 companies as on 14th February 2020 is 18,091.36 Crores. BSE is the market leader in this segment with a market share of 60 percent.
The response since the launch of this platform by BSE has been very positive and till date, 317 companies have already listed on this platform.