- Milky Mist Dairy Food Pvt. has postponed its Rs 2,035 crore IPO due to market volatility
- The company cited choppy equity markets and weak post-listing performance of recent issues
- The IPO included a Rs 1,785 crore fresh issue and Rs 250 crore offer for sale by shareholders
Temasek Holdings Pte-backed dairy products maker Milky Mist Dairy Food Pvt. has put its planned Rs 2,035 crore initial public offering on hold as choppy equity markets and muted post-listing performance of recent issues weigh on issuers' listing plans, according to people familiar with the matter.
The company has shelved its listing process for now after assessing prevailing market conditions, the people said, asking not to be identified discussing private deliberations. Milky Mist, though, said that their SEBI window for filing is till October and they are looking to meet that window.
"Our IPO is on track, there is no change in our decision," said Milky Mist CEO Dr. K Rathnam to NDTV Profit.
The development adds to a growing list of companies that have deferred public market plans amid heightened volatility and softer investor appetite for new offerings. Firms including Flipkart, PhonePe and Curefoods have also delayed their expected listings as issuers wait for more favourable market conditions.
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Milky Mist had filed draft papers for its IPO in July 2025. The proposed offering comprised a fresh issue of shares worth Rs 1,785 crore and an offer for sale of Rs 250 crore by existing shareholders, taking the total issue size to Rs 2,035 crore.
The company had strengthened its balance sheet ahead of the planned listing by raising Rs 3,570 crore from Jongsong Investment in a pre-IPO placement completed in May.
India's IPO market, which witnessed record fundraising over the past two years, has slowed in recent months as volatility and underwhelming listing gains have prompted investors to turn selective. The weaker reception for several 2026 offerings has also led a number of companies to reassess the timing of their public issues, betting that improved market sentiment could unlock stronger valuations.
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