Milky Mist Dairy Food, which launched its Rs 1,553 crore initial public offering (IPO) on Aug. 11, was subscribed 0.79 times on Day 1. The latest grey market premium (GMP) of the dairy products company stands at Rs 22.5, implying a potential listing premium of just over 16% over the IPO's upper price band of Rs 140.
The positive GMP comes despite the IPO remaining undersubscribed after Day 1, with investors now watching whether demand picks up on Day 2.
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Here's all you need to know about Milky Mist Dairy Food IPO.
What Does Milky Mist Dairy Food IPO GMP Signal?
The current GMP of Rs 22.5 indicates that the stock could potentially list at around Rs 162.5, or 16.07% above the upper IPO price band of Rs 140, if the grey-market trend translates into actual listing performance. However, GMP is unofficial and can change before listing.
| Particulars | Details |
| IPO price band | Rs 133–140 |
| Latest GMP, Aug. 12 | Rs 22.5 |
| Estimated listing price | Rs 162.5 |
| Potential listing gain | 16.07% |
Milky Mist Dairy Food IPO Latest Subscription Status
Milky Mist Dairy Food IPO was subscribed 0.79 times at the end of Day 1 on Aug. 11.
- QIBs: 0.39 times
- NIIs: 0.92 times
- RIIs: 0.96 times
Retail investors showed the strongest demand among the three categories on Day 1, while QIB participation remained relatively subdued.
Milky Mist Dairy Food IPO: Issue Size, Price Band, Lot Size
The public issue is a combination of a fresh issue of 10.20 crore shares aggregating to Rs 1,428 crore and an offer-for-sale (OFS) of 89 lakh shares aggregating to Rs 125.00 crore.
Milky Mist Dairy Food IPO has set its price band at Rs 133 to Rs 140 per share. The lot size for an application is 107 shares. This means that the retail investors need a minimum of Rs 14,980 (based on upper price) to participate in the bidding window.
JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
ALSO READ: Amid Sources Hinting At IPO Pause, Milky Mist Looking To Launch By October Window
Milky Mist Dairy Food IPO Key Dates
- Issue open date: Aug. 11
- Issue close date: Aug. 13
- Allotment finalisation: Aug. 14
- Refund initiation: Aug. 17
- Share credit: Aug. 17
- Listing date: Aug. 18
Milky Mist Dairy Food Financials
For the financial year ended March 2026, the company reported total income at Rs 3,145 crore v Rs 2,355 crore in FY25. Its profit after tax nearly tripled to Rs 127 crore. Ebitda in FY26 stood at Rs 435 crore v Rs 310 crore in FY25.
About Milky Mist Dairy Food
Milky Mist Dairy Food Ltd., incorporated in 2014, is a packaged food company focused on dairy products. Its diverse portfolio includes cheese, paneer, butter, curd, ghee, yogurt, ice cream, frozen foods, among other things. Its flagship brand is 'Milky Mist' and sub-brands include SmartChef, Capella, Misty Lite, Briyas, and Asal.
Use of Proceeds
The IPO proceeds will primarily be used to reduce debt. Funds will also support expansion and modernisation of the manufacturing facility, deployment of supporting infrastructure, and other general corporate purposes.
ALSO READ: Milky Mist Said To Launch $213 Million India IPO This Month
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