Client Name

Waqas Ghani, CFA

Faculty Advisor

Dr. Fawad Ahmad, Assistant Professor, Department of Finance, School of Business Studies (SBS)

SBS Thought Leadership Areas

Investment Decision Making

SBS Thought Leadership Area Justification

  • We built a detailed financial model for Prema Foods to serve as a comparable peer for Dairyland. We projected revenue growth, margin evolution, and cash‑flow forecasts. we applied discounted cash flow (DCF) techniques and relative multiples (P/E, EV/EBITDA) to derive a fair valuation range for Dairyland.

  • This comparative valuation exercise directly mirrors the core of investment decision making: selecting and calibrating valuation methodologies to arrive at an informed price target.

  • In drafting Dairyland’s prospectus, we distilled complex financial forecasts and risk assessments into clear narratives and disclosures. We structured sections on market overview, competitive positioning, and use‑of‑proceeds to address the information needs of potential investors.

  • Crafting this document sharpened our understanding of the investment decision process—from due diligence to regulatory disclosures—ensuring all critical value drivers and risk factors are transparently communicated.

  • Our final presentation (PPT) recreated a roadshow pitch, highlighting Dairyland’s growth story, financial health, and ESG considerations, anticipating their specific decision‑making criteria.

  • This exercise emphasized the behavioral and informational aspects of investment decisions. how narrative framing, data visualization, and Q&A readiness can sway investor judgment.

Aligned SDGs

GOAL 9: Industry, Innovation and Infrastructure

Aligned SDGs Justification

The proceeds of IPO will be utilized in capacity additions, rebranding and expansionary activities so as to lead the industry with innovation. The theme of the rebranding activity is to provide comfort at all interactive touch points requiring innovation in the company’s ecommerce experience, outlet visit experience, and work experience for employees at the office. Indirect economic benefits include government’s investment in infrastructure in industrial zones to incentivize investors and investment in industrial setup.

NDA

Yes

Abstract

The Experiential Learning Project (ELP) was designed around the concept of simulating an Initial Public Offering (IPO), with the primary objective of identifying a private company that could strategically benefit from going public based on its operational and financial performance.

To achieve this, the project was divided into three major phases:

  1. Initial Pre-Screening
  2. Development of a Financial Model
  3. Preparation of the IPO Prospectus

The process began with an extensive screening of private companies operating in Pakistan. After thorough analysis of various sectors including Dairy, Electric wires and Cables, Pharmaceuticals, Textile, Logistics and Storage, Dairyland (Dayfresh) Pvt. Ltd. was selected as the ideal IPO candidate. The decision was driven by Dairyland’s consistent topline growth from FY21 to 1QFY25, notable recovery in profit margins, and its commitment to strong ESG (Environmental, Social, and Governance) practices.

Based on this, we developed an IPO prospectus aimed at equipping both retail and institutional investors with key information to make informed investment decisions. The prospectus outlines the company’s potential market performance, financial outlook, and anticipated returns, assuming public listing through the issuance of ordinary shares.

While the valuation and prospectus are reflective of Dairyland’s business fundamentals and financial metrics based on our analysis, we advise the corporate client and prospective investors to exercise independent judgment and conduct their due diligence before making any investment decisions in the future.

Document Type

Restricted Access

Document Name for Citation

Experiential Learning Project

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