Milky Mist Dairy Food Ltd., one of India’s leading premium dairy products manufacturers, has announced the price band for its Initial Public Offering (IPO) at ₹133-140 per equity share. It will begin the subscription on August 11, 2026 and close on August 13, 2026. At the upper end of the price band, the company is expected to command a post-issue valuation of about ₹10,778 crore.
Milky Mist IPO: Key Dates. Event Date. Anchor Investor Bidding August 10, 2026. IPO Opens August 11, 2026. IPO Closes August 13, 2026. Basis of Allotment August 14, 2026 (Tentative). Refunds August 17, 2026 (Tentative). Shares Credited to Demat August 17, 2026 (Tentative). Listing on NSE & BSE August 18, 2026 (Tentative).
IPO Details Issue Size: ₹1,553 crore
Price Band: ₹133-140 per share. Face Value: ₹2 per equity share. Fresh issue: ₹1,428 crore. Offer for Sale (OFS): ₹125 crore. Listing: NSE & BSE
The IPO size has been reduced from ₹2,500 crore to ₹1,553 crore following a pre-IPO fundraising round led by Temasek-backed investor Jongsong Investments.
About Milky Mist
Born in Erode, Tamil Nadu, Milky Mist is a world-class manufacturer of value-added dairy products. Unlike most dairy companies that operate in liquid milk, Milky Mist does not sell liquid milk products but premium products instead (e.g.,
Paneer. Cheese. Greek Yogurt. Curd. Butter. Ghee. Ice Cream. Cream Cheese. Protein-rich dairy products
Its products are available through more than 3.75 lakh retail outlets across India, which is one of the country’s fastest-growing premium dairy brands.
Use of IPO Proceeds
The company plans to use the funds raised through the fresh issue for:
Repayment and prepayment of borrowings. Expansion and modernization of its Perundurai manufacturing facility. Set up whey protein concentrate, yogurt and cream cheese plants. Expanding its cold chain through visi coolers, freezers and chocolate coolers. General corporate purposes
These investments are to further develop Milky Mist's production and distribution capabilities.
Financial Performance and IPO Review.
Milky Mist has seen strong financial growth in recent years, supported by increasing demand for premium dairy products.
Positives:
Strong brand in value-added dairy segment. Healthy revenue and profit growth. Focus on premium, high-margin dairy products. Backed by Temasek. With IPO proceeds, expansion plans.
Risks:
Competition from the established dairy players is intense. Dependence on milk procurement costs. Valuation appears premium compared to some listed peers.
On the whole, Milky Mist gives investors access to India’s fast-growing premium dairy industry that’s big business at an integrated premium dairy market. Our long-term prospects continue to be promising, although investors should be aware of future prospects but also should consider the valuation, competitive landscape and risks of the company for subscribers before they subscribe.
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