Milky Mist IPO Lists at 14.07% Premium on NSE & BSE

Milky Mist Dairy Food Ltd. shares debuted today on the NSE and BSE, opening with a potential listing premium of 14.07% over the upper price band of Rs 140.

The Grey Market Premium (GMP) for the IPO stood at Rs 19.7, indicating an estimated listing price of Rs 159.7 per share.

Key Listing Figures

• GMP: Rs 19.7
• Estimated Listing Price: Rs 159.7 per share
• Potential Listing Premium: 14.07%

The IPO saw significant investor interest, oversubscribed by a total of 56.12 times by the close of bidding on August 13.

Subscription Breakdown

• Qualified Institutional Buyers (QIBs): 155.83 times
• Non-Institutional Investors (NIIs): 34.91 times
• Retail Investors: 8.41 times

The total IPO size was set at Rs 1,553 crore, structured with both a fresh issue and an Offer for Sale.

IPO Structure Details

• Fresh Issue: 10.2 crore equity shares (worth Rs 1,428 crore)
• Offer for Sale (OFS): 89.28 lakh equity shares (valued at Rs 125 crore)
• Price Band: Rs 133–Rs 140 per share
• Minimum Retail Bid: 107 shares (requiring Rs 14,980 at upper price band)

Milky Mist plans to allocate the net proceeds from the fresh issue towards several strategic initiatives.

Planned Fund Utilisation

• Repayment or Pre-payment of Borrowings: Rs 496.86 crore
• Manufacturing Facility Expansion (Capital Expenditure): Rs 469.24 crore
• Deployment of Coolers and Freezers: Rs 155.31 crore
• General Corporate Purposes

Established in 2014, Milky Mist Dairy Food Ltd. operates as a packaged food company, specializing in value-added dairy products like paneer, cheese, and curd, primarily serving southern India.