Milky Mist Dairy Food IPO: Rs 1553 Cr Issue Opens Strong

Milky Mist Dairy Food’s Initial Public Offering (IPO) opened on August 11, 2026, aiming to raise approximately Rs 1,553 crore. The offering will close for subscription on August 13, 2026, attracting significant investor attention.

IPO Key Figures

• Price Band: Rs 133-140 per share
• Lot Size: 107 equity shares
• Total Raise Target: Rs 1,553 crore
• Fresh Share Sale: Rs 1,428 crore
• Offer-for-Sale (OFS): Up to 89,28,570 equity shares worth Rs 125 crore

The net proceeds from the IPO are designated for debt repayment and financing capital expenditure. These funds will modernize the company’s Perundurai facility, deploy visi coolers and ice-cream freezers, and support general corporate purposes.

Company Snapshot & Anchor Investment

Incorporated in July 2014, Milky Mist Dairy Food, based in Erode, specializes in premium value-added dairy products. Its extensive portfolio includes cheese, paneer, butter, curd, ghee, yogurt, and other ready-to-eat and ready-to-cook items.

• Anchor Investors: 19 entities
• Amount Raised from Anchors: Rs 465.3 crore
• Shares Allocated to Anchors: 3,32,35,713 equity shares
• Anchor Share Price: Rs 140 each

Financial Performance Overview

The company has demonstrated robust financial growth in recent fiscal years. Its market capitalization currently exceeds Rs 10,775 crore.

• FY25 Net Profit: Rs 127.01 crore
• FY25 Revenue: Rs 3,145.01 crore
• FY24 Net Profit: Rs 46.07 crore
• FY24 Revenue: Rs 2,354.79 crore

Investor Allocations & Listing Outlook

The IPO has specific reservation categories for different investor types. Shares are anticipated to list on both BSE and NSE on August 18, 2026.

• Qualified Institutional Bidders (QIBs): 50% of net issue
• Non-Institutional Investors: 15%
• Retail Investors: 35%

The Grey Market Premium (GMP) for Milky Mist Dairy Food shares was reported at Rs 20-22 per share. This indicates a potential listing gain of 14-16% for investors.

JM Financial Ltd, Axis Capital, and IIFL Capital Services are serving as the book-running lead managers for the offering, with Kfin Technologies Ltd as the official registrar.

Brokerage Recommendations

Several brokerage firms have largely recommended subscribing to the IPO. They cite the company’s focus on high-margin value-added products, strong revenue and profit growth, and strategic use of IPO proceeds for debt reduction and capacity expansion.