Milky Mist Launches ₹1,553 Crore IPO; Subscription Opens August 11
India | August 2026 – Premium dairy products manufacturer Milky Mist Dairy Food Ltd has announced that its ₹1,553 crore Initial Public Offering (IPO) will open for public subscription on August 11, making it the largest IPO by an Indian dairy company to date.
The public issue comprises a fresh issue of equity shares worth ₹1,428 crore and an Offer for Sale (OFS) of ₹125 crore. The company has fixed a price band of ₹133–140 per equity share.
IPO Schedule Announced
The IPO will remain open for subscription from August 11 to August 13, while the anchor investor portion will open on August 10.
At the upper end of the price band, Milky Mist is expected to achieve a post-issue market valuation of approximately ₹10,778 crore.
The company’s equity shares are proposed to be listed on the BSE and NSE on August 18.
Funds to Support Expansion
Milky Mist plans to utilize the proceeds from the fresh issue to strengthen its manufacturing and distribution capabilities.
The company intends to:
- Repay existing borrowings.
- Expand and modernize its manufacturing facility at Perundurai, Tamil Nadu.
- Establish new whey protein concentrate, yogurt, and cream cheese production plants.
- Expand its cold-chain infrastructure by deploying additional visi coolers, ice cream freezers, and chocolate coolers.
- Meet general corporate requirements.
These investments are expected to enhance production capacity and support the company’s long-term growth strategy in India’s value-added dairy segment.
Strong Presence in Value-Added Dairy
Founded in Erode, Tamil Nadu, Milky Mist has built its business around premium value-added dairy products rather than liquid milk.
Its product portfolio includes:
- Paneer
- Cheese
- Curd
- Yogurt
- Butter
- Ghee
- Ice cream
- Other value-added dairy products
The company continues to focus on expanding its premium dairy offerings across domestic markets.
Pre-IPO Investment Strengthened Capital Base
Before launching the IPO, Milky Mist secured ₹482 crore through a pre-IPO investment round in May 2026 from Jongsong Investments Pte Ltd, an indirect wholly owned subsidiary of Temasek Holdings.
The investment strengthened the company’s capital position ahead of its public market debut.
Issue Allocation
The public issue has been allocated as follows:
- 50% for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 35% for Retail Individual Investors (RIIs)
The IPO is being managed by JM Financial, Axis Capital, and IIFL Capital Services, while KFin Technologies has been appointed as the registrar.
Growing Momentum in India’s Dairy Industry
Milky Mist’s public offering reflects growing investor interest in India’s rapidly expanding value-added dairy sector.
With plans to expand manufacturing capacity, strengthen cold-chain infrastructure, and diversify its product portfolio, the company aims to capitalize on increasing consumer demand for premium dairy products across the country.
