Milky Mist Dairy Food Ltd. opens for subscription today, August 11. The dairy products maker has fixed a price band of Rs 133-140 per share for its Rs 1,553 crore Initial Public Offering (IPO). At the price band, the company is expected to command a post-issue market valuation of about Rs 10,310 crore to Rs 10,778 crore. The initial share sale will conclude on August 13.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,428 crore and an Offer For Sale (OFS) of up to Rs 125 crore, taking the total issue size to Rs 1,553 crore. The proposed public issue is set to be the largest IPO by an Indian dairy company. Listed peers in the sector include Parag Milk Foods Ltd, Hatsun Agro Product Ltd and Dodla Dairy Ltd.
JM Financial, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue, while KFin Technologies is the registrar
Earlier, Milky Mist had planned to mobilise Rs 2,035 crore through its maiden public offering, according to its draft papers.
The IPO follows Milky Mist's Rs 482 crore pre-IPO funding round in May this year from Jongsong Investments Pte Ltd, an indirect wholly owned subsidiary of Temasek Holdings.
Milky Mist Dairy Food on Monday raised Rs 465.30 crore from anchor investors, a day before the opening of its initial public offering (IPO) for public subscription. Zulia Investments Pte Ltd received the largest allocation of 1.14 crore shares, accounting for 34.39% of the anchor investor portion. The allocation is worth about Rs 160 crore.
Other major anchor investors included Nippon India Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Public Sector Pension Investment Board-IIFL Asset Management, India Acorn Fund and International Finance Corporation (IFC).
Of the total anchor allocation, 1.54 crore shares, or 46.27%, were allotted to nine domestic mutual funds through 13 schemes.
The equity shares are proposed to be listed on the BSE and NSE on August 18.
Milky Mist Dairy Food Ltd. IPO Subscription Status
The Milky Mist Dairy Food Ltd. IPO has been booked 7% as of Day 1 at 10:19 am.
- Qualified Institutional Buyers: 0.00 times
- Non Institutional Investors:0.08 times
- Retail Individual Investors: 0.10 times
- Employee Reserved: 0.08 times
The company has reserved 50% of the offer for qualified institutional buyers, 15% per cent for non-institutional investors and 35% for retail investors.
Milky Mist Dairy Food Ltd. IPO GMP
Milky Mist Dairy Food IPO last GMP is Rs 20.5, last updated on August 11, 2026, 10:00 am. With the upper price band of Rs 140.00, Milky Mist Dairy Food IPO's estimated listing price is Rs 160.5. The expected percentage gain per share is 14.64%, as per Investorgain.
Milky Mist Dairy Food Ltd. Financials
Proceeds from the fresh issue will be used towards repayment of borrowings and expansion and modernisation of the company's manufacturing facility at Perundurai, including setting up whey protein concentrate, yogurt and cream cheese plants.
The company also plans to expand its cold-chain infrastructure by deploying visi coolers, ice cream freezers and chocolate coolers, besides using a portion of the proceeds for general corporate purposes.
About The Company
Founded in Erode, Tamil Nadu, Milky Mist is among India's leading premium dairy brands focused on value-added dairy products. Its portfolio includes paneer, cheese, curd, yogurt, butter, ghee and ice cream, among other products. The company does not operate in the liquid milk segment.
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