Milky Mist Dairy Food has announced the initial public offering (IPO) details, setting a price band of Rs. 133 to Rs. 140 per share. The IPO will open for subscription on August 11 and close on August 13, 2026. Anchor investors can place bids on August 10, a day before the public issue opens.
The company aims to raise Rs. 1,553 crore through this offering, which includes fresh shares worth Rs. 1,428 crore and an offer-for-sale (OFS) of Rs. 125 crore. The IPO size was reduced from an earlier planned Rs. 2,035 crore. Milky Mist also raised Rs. 357 crore via a pre-IPO round.
The lot size for the IPO is set at 107 shares. Retail investors will be allocated at least 35% of the issue, non-institutional investors 15%, and qualified institutional buyers (QIBs) up to 50%.
Proceeds from the IPO will be used primarily for debt reduction and business expansion. Specifically, Rs. 496.8 crore will go toward repaying or reducing loans, Rs. 469.2 crore will be invested in the Perundurai plant in Tamil Nadu, and Rs. 155.3 crore will be used to purchase coolers and freezers for the distribution network.
Milky Mist reported a 176% increase in profit for the fiscal year ended March 31, 2026, with revenue from operations rising 34%. CEO K. Rathnam expects annual revenue growth of around 30%, citing India’s protein-deficient market as a growth opportunity. The company’s products currently reach over 375,000 retail outlets across India.
Shares are expected to list on the BSE and NSE on August 18, 2026.
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