Milky Mist Dairy Food IPO opens on August 11 with 20% GMP
Milky Mist Dairy Food’s book-built issue will comprise a fresh issue of 10.20 crore shares valued at Rs 1,428 crore and an offer for sale of 0.89 crore shares worth Rs 125 crore. Promoter shareholders Sathishkumar T. and Anitha S. will sell shares worth Rs 75 crore and Rs 50 crore, respectively, through the offer-for-sale component.
Subscription is due to begin on August 11 and end on August 13. The basis of allotment is expected to be completed on August 14, with a tentative listing on both the National Stock Exchange and the Bombay Stock Exchange on August 18. JM Financial is the book-running lead manager, and Kfin Technologies is the registrar.
The price range has been fixed at Rs 133 to Rs 140 per share. Each lot contains 107 shares, requiring a minimum retail investment of Rs 14,980 at the upper end of the band.
The latest reported grey-market premium is Rs 26 per share, equivalent to roughly 20% of the upper issue price. On that basis, the indicative grey-market price is about Rs 166 per share. Grey-market premiums are unofficial and may change before a stock begins trading.
Milky Mist Dairy Food estimates net proceeds of Rs 1,121.41 crore from the fresh issue. It plans to allocate Rs 496.86 crore to the repayment or prepayment of selected borrowings and Rs 469.24 crore to capital expenditure for expanding and modernising its manufacturing plant at Perundurai. A further Rs 155.31 crore is earmarked for visi coolers, ice-cream freezers and chocolate coolers. The balance is intended for general corporate purposes.
For the financial year 2026, the company reported total income of Rs 3,145.01 crore, up from Rs 2,354.79 crore in the previous year. Profit after tax increased to Rs 127.01 crore from Rs 46.07 crore.
Incorporated in July 2014, Milky Mist Dairy Food sells cheese, paneer, butter, curd, ghee, yoghurt, ice cream, UHT products, frozen foods, ready-to-eat and ready-to-cook foods, and chocolates. Its brands include Milky Mist, SmartChef, Capella, Misty Lite, Briyas and Asal. The company sources milk directly from farmers and uses automated manufacturing facilities, an in-house cold-chain network and several distribution channels. It had 1,317 permanent employees across manufacturing, sales and marketing, quality control and milk collection operations.
