Milky Mist Files DRHP For Rs 2,035-Crore IPO

Milky Mist Dairy Food Ltd. has filed its draft red herring prospectus with the Securities and Exchange Board of India for its proposed initial public offering worth Rs 2,035 crore.

According to the DRHP, the IPO comprises a fresh issue of shares worth Rs 1,785 crore and an offer for sale of shares amounting to Rs 250 crore. Promoter shareholders Sathishkumar T and Anitha S will offload their stakes Rs 1,500 and Rs 1,000 crore, respectively.

Milky Mist's IPO is the largest in this category. JM Financial, Axis Capital, and IIFL Capital Services are lead managers of the issue.

Milky Mist will use proceeds from the IPO to pay its outstanding debts, and to modernise its Perundurai manufacturing facility. It will also use the proceeds from the IPO to deploy visi coolers, ice cream freezers and chocolate coolers and general corporate purposes.

Milkly Mist Dairy Food is fastest-growing packaging food company which is headquartered Erode, Tamil Nadu. The company is focused on producing premium dairy products like curd, ice creams, butter and greek yogurts.

According to DRHP, Milky Mist Dairy Food has made Rs 87.5 crore profit in the financial year 2025. Its operating profit is Rs 331 crore.