Tag: initial public offering

  • Milky Mist IPO Opens August 11: Price Band, Lot Size, and Key Dates

    Milky Mist IPO Opens August 11: Price Band, Lot Size, and Key Dates

    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.

  • Kusumgar IPO Allotment Status Released: How to Check and Expected 38% Listing Gain

    Kusumgar IPO Allotment Status Released: How to Check and Expected 38% Listing Gain

    The Kusumgar IPO allotment status was announced on July 13, 2026, following an overwhelmingly positive response from investors. The public issue saw a massive subscription of 128.85 times, with Qualified Institutional Buyers leading demand, followed by Non-Institutional Investors and retail participants. As a result, many applicants saw their chances of securing shares reduced due to the high oversubscription.

    How to Check Your IPO Allotment Status

    Investors can verify their allotment status on the official websites of BSE, NSE, or the registrar, Bigshare Services. The process is straightforward:

    • On NSE: Select the IPO, enter your application number or PAN, and submit.
    • On BSE: Choose the equity issue, select Kusumgar Limited, enter your application number or PAN, complete the captcha, and submit.
    • On Bigshare Services: Use the same details (PAN, application number, or DP/Client ID) to check the result.

    Shares allotted to successful applicants will be credited to their Demat accounts on July 14. Unsuccessful bidders will have their blocked funds released on the same day. The company is scheduled to make its stock market debut on July 15 on both the NSE and BSE.

    Kusumgar IPO GMP and Listing Expectations

    The strong subscription reflects high investor confidence. The grey market premium (GMP) for the Kusumgar IPO stands at Rs. 160 as of July 13. Based on the upper issue price of Rs. 419 per share, the estimated listing price is around Rs. 579, implying a potential listing gain of approximately 38% if market conditions remain favorable. However, GMP is an unofficial indicator and can change rapidly, so the final listing price may differ.

    Company Profile and IPO Details

    Founded in 1990, Kusumgar manufactures engineered synthetic fabrics for industries including aerospace, defense, automotive, industrial equipment, and outdoor products. The company operates seven manufacturing units across Gujarat and Uttar Pradesh. The Rs. 650 crore IPO was entirely an Offer for Sale, meaning existing shareholders sold their shares, and the company will not receive any fresh funds from the issue.