Dodla (IFC-42009)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 14, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
DODLA DAIRY LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 71.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 11, 2019

Disclosed by Bank Feb 27, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank website, "The proposed investment will support Dodla to: (a) expand and upgrade its existing manufacturing infrastructure by purchasing new equipment for select processing plants; (b) fund its working capital needs; and (c) for general corporate purposes including marketing and brand building (the “Project”)."

Investment Description
  • International Finance Corporation (IFC)
Private Actors

According to IFC,Dodla Dairy was incorporated in 1995 and is one of the top three dairy companies in Southern Indian states of Telangana, Andhra Pradesh, and Tamil Nadu with a total capacity of approximately 1 million litres per day as of May 31, 2018. It also has a presence in Kenya and Uganda. It engages in the procurement, production, distribution and marketing of milk and milk products, comprising fresh milk, curd, butter, paneer (cottage cheese), flavoured milk, milk sweets among others.

The Company is promoted by Dodla Sesha Reddy and his son Dodla Sunil Reddy, who each have over 20 years of experience in the dairy industry. The family collectively owns approximately 70% of the Company.

Contact Information

Dodla Dairy Limited
Mr. Hemanth Kundavaram
Chief Financial Officer
+91 40 4546 7777
mail@dodladairy.com
# 8-2-293/82/A, 270/Q, Road No 10-C, Jubilee Hills, Hyderabad, Telangana – 500 033.
https://www.dodladairy.com/

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/