Pakistan’s Biggest Dalda Cooking oil & Banaspati Ghee Manufacturer Plots ‘Largest Consumer Staple’ IPO

Voice of The People Report: VOP Latest Breaking News Dalda Foods PVT Ltd. Pakistan’s Largest Dalda Cooking oil & Banaspati Ghee Manufacturer Dalda Foods PVT Limited is planning an Initial Public offering (IPO) in the Country,

Pakistan’s largest cooking oil manufacturer plots ‘biggest consumer staple’ IPO

Anticipated to take place before Ramadan, which is likely to begin from March 22, Dalda Foods are looking to raise between Rs6.3 billion($ 18 million) and Rs8.6 billion in a share trade, the company’s principal administrative officer Aziz Jindani told the US publication.

Mega IPO Planned for 2023 by Pakistan’s Biggest Cooking Oil Maker

Data compiled by Bloomberg showed that at Rs 8.6 billion Dalda’s IPO would be Pakistan’s largest by a consumer staple company. It would also be the country’s largest since Air Link Communication Limited’s Rs 9.4 billion listing in September 2023.

Cooking oil maker could raise as much as 8.6 billion rupees

Jindani, while pertaining to the company’s plant at one of the country’s busiest shipping anchorages, said “ This particular IPO is intended to fund Port Qasim expansion. The proceeds could expand its capacity in Karachi to prize oil painting from seeds ”.

Unilever sold Dalda’s Pakistan business to employees in 2004

He further added that it may reach 900 tons a day, further than doubling the current rate, he said.

Meanwhile, Arif Habib Limited( AHL) Chief Executive Officer Shahid Ali Habib revealed that the immolation could involve dealing about 50 million shares, conforming of two- thirds of new shares with the rest coming from being shareholders. It should be noted that Arif Habib Limited is the sole counsel to the IPO.

Dalda looks to raise between Rs 8.3-4.6 bn in a share sale

Unilever introduced Dalda to the region in 1937, still, it vended the company’s Pakistan business to Westbury Group, possessed by Bashir Jan Mohammad and a group of workers. With time Dalda expanded into making liquid tea whitener besides manufacturing cuisine oil painting, according to its website.

Plans to Bankroll expansion of its Production

Jindani said this business is “ recession- evidence” as a order, as Pakistanis continue to spend on cooking oil painting despite advanced affectation and a retardation in profitable growth as it’s seen as a necessity in homes.

Dalda Plots Pakistan’s Biggest Consumer Staple IPO, CEO Says

The CEO participated that the company’s revenues have grown 27 a time on average since 2018. The profit reached Rs88 billion in the financial time of 2021- 22, further than those of other major food directors in the country similar as FrieslandCampina, Engro Pakistan Limited, and National Foods Limited, the superintendent added.

Analyst says offering can involve selling about 50m shares

Also, it was learnt that Dalda’s products regard for about 5 of the cuisine oil painting request that’s estimated to be worth about$ 16 billion. The table could further help Dalda capture a larger share of Pakistan’s fractured comestible oil painting request.

Air Link Communication PVT Limited

The IPO would be the largest in the country since Air Link Communication Limited’s Rs 9.4-billion listing. The company is one of the largest distributor of mobile phones in Pakistan.