Milky Mist Dairy Food Ltd. IPO opened for subscription on 11 August 2026 and has started the three-day bidding process. The IPO will open by August 13 with the dairy company looking to raise a total of ₹1,553 crore from the market. The IPO has attracted a lot of attention from investors owing to Milky Mist’s presence in India’s dairy products market and its plans to expand production capacity and strengthen its operations.
The company has fixed the IPO price band at ₹133 to ₹140 per share, and it can fetch up to ₹10,778 crore at the upper end of the price band. The IPO has a fresh issue of ₹1,428 crore and an offer for sale of ₹125 crore. The minimum lot size is 107 shares. Retail investors bidding at the upper price band would have to invest ₹14,980 for one lot. The IPO has reserved 50% of the issue for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
On the first day of bidding, investors are closely watching the subscription status and Grey Market Premium (GMP). Last reported GMP was around ₹20.50 per share. Based on the IPO price of ₹140, the implied grey-market price was about ₹160.50 which means a premium of about 14.6%. The GMP is an unofficial indicator and can change very fast. Investors should not consider it as a guarantee of actual listing price or listing gains.
Milky Mist plans to allocate a significant portion of the IPO proceeds to pay off borrowings and expand its manufacturing facility. At the same time, it is expanding its Perundurai facility to provide production capacity for whey protein concentrate, yoghurt and cream cheese products. Cold-chain infrastructure and equipment such as visi coolers, ice-cream freezers and chocolate coolers will also be added to the expansion and help the company to grow in India’s competitive dairy sector over the long term.
The Milky Mist IPO will be allocated on August 14, 2026 and the company will be credited to successful applicants after the proposed listing on August 18 on the NSE and BSE. A good consumer brand with a strong consumer brand and expansion plans and good early GMP signals is attracting investors to the IPO and so is very attractive IPO prospects. But investors should be careful to look beyond the grey market and look for value in terms of the company's valuation, profit margins, debt, expansion plan, growth prospects and competition before making any investment decision.
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