Milky Mist Dairy Food Ltd., one of India’s leading value-added dairy producers, has received approval from the Securities and Exchange Board of India (SEBI) to raise ₹2,035 crore through an initial public offering (IPO). The issue includes a fresh issue of ₹1,785 crore and an offer for sale of ₹250 crore by existing shareholders.
A substantial part of the funds, around ₹750 crore, will go towards debt reduction, while ₹414 crore will finance the expansion and modernisation of its Perundurai manufacturing facility in Tamil Nadu. The company will also invest in cold-chain infrastructure and allocate a portion to general corporate purposes.
Milky Mist, known for its exclusive focus on value-added dairy products such as paneer, curd, cheese, and yoghurt, has grown into a major FMCG-style brand with strong farmer linkages and in-house logistics. Analytically, this IPO underscores a broader shift in India’s dairy industry from liquid milk sales towards high-margin, branded dairy products supported by scale, innovation, and financial discipline.
