Osam Dairy, one of Eastern India’s leading premium dairy brands, today announced its 100% acquisition by Dodla Dairy, one of India’s foremost integrated dairy companies based in South India, for a consideration of INR 271 crore.
This acquisition marks a major milestone for Osam Dairy and its shareholders, including promoters Abhinav Shah and Harsh Thakkar, as well as its private equity investors. The transaction combines the strength of a high-growth regional brand with the scale and operational expertise of a national dairy leader. Notably, this is among the first large-scale acquisitions in Eastern India, reinforcing the region’s potential to attract institutional capital, deliver strong investor returns, and foster a vibrant entrepreneurial ecosystem.
Sharing his views on the acquisition, Mr. Dodla Sunil Reddy, Managing Director, Dodla Dairy, said, “We are thrilled to announce the proposed acquisition of Osam, marking a significant milestone in Dodla’s journey. This strategic move underscores our commitment to becoming a Pan-India dairy company. As a market, Eastern India is a very exciting market for the dairy industry with faster growth as compared to the national average. This market supports a large population, and milk consumption has immense headroom for growth driven by high urbanization potential and strong GDP growth. We see tremendous synergies with Osam, which, when combined with Dodla’s strong operational experience, will enable us to take this to the next level.”
Abhinav Shah, Promoter and Outgoing CEO, Osam Dairy, said, “This acquisition marks the beginning of Osam’s next chapter. Over the past decade, we’ve built a strong foundation, and joining hands with Dodla will accelerate the company’s growth, leveraging their scale and operational excellence. We thank the InCred team for facilitating this transaction in a record time of just over four months.”
InCred Capital acted as the exclusive financial advisor to Osam Dairy and its shareholders on the acquisition. Ashish Ambwani, Managing Director, InCred Capital said, “This transaction represents a landmark moment for Osam Dairy, which has carved a distinct niche in the competitive dairy sector of Eastern India. We’re proud to have advised on this transformative deal and are excited about the future of the business under Dodla’s ownership.”
About Osam Dairy
Osam Dairy is a leading Eastern India dairy company established in 2012, focused on the procurement, processing, and sale of milk and dairy products in Bihar, Jharkhand, and other eastern dairy markets of India. The company operates a vertically integrated supply chain with two operational processing plants that ensures full control and delivery of high-quality milk products to customers. Osam has a procurement network with more than 25,000 plus dairy farmers, processes around 1.1 lakh litres of milk per day, and has 1000 collection centers and 19 chilling centers.
About Dodla Dairy
Dodla Dairy Ltd is one of India’s leading integrated dairy companies incorporated in 1995. The company procures, processes, and sells milk and milk products. The Company’s procurement is centred in 5 states and products are available for purchase in 13 states and has 190 milk chilling centers/plants. The Company’s distribution and marketing operations are conducted through its 60+ sales offices, 2,900+ agents, 2,100+ milk and milk product distributors, 110 modern trades across India. Additionally, the company’s milk and dairy based Value-added Products are also available through 839 ‘Dodla Retail Parlours’ as on 31st March 2025 and are spread across the states of Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. The Company also has international operations in Uganda and Kenya.
About InCred Capital
InCred Capital is a part of InCred Group, a class-leading diversified financial services group. The investment banking business of InCred Capital offers M&A Advisory, Fund Raise Advisory (Private Equity/ Strategic) and
Structured Finance solutions. The Equity Capital Markets division part of InCred Capital Group Company offers strategic guidance from IPO planning to private placements to effective stake sale monetization strategies. The team at InCred Capital brings sound sector expertise, deep industry relationships, global mindset and superior execution skills to devise strategies that objectively address complex business needs of its clients.
