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Milky Mist Dairy Food files preliminary papers with SEBI to raise Rs 2,035 crore through IPO

22 Jul 2025 Evaluate

Dairy products maker Milky Mist Dairy Food has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,035 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 1,785 crore and an offer for sale (OFS) of shares valued at Rs 250 crore by promoters.

Proceeds from the fresh issue to the tune of Rs 750 crore will be used for payment of debt, Rs 414 crore for the expansion and modernisation of the Perundurai manufacturing facility, which includes setting up whey protein concentrate, yogurt, and cream cheese plants. Further, Rs 129 crore will be invested in deploying visi coolers, ice cream freezers, and chocolate coolers, and the remaining funds will be allocated towards general corporate purposes. JM Financial, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue. 

Founded in Erode, Tamil Nadu, Milky Mist is a leading dairy brand in India, exclusively focused on premium value-added dairy products, including paneer, cheese, yogurt, ice cream, butter, ghee, and packaged foods.


Peers
Company Name CMP
Varun Beverages 509.05
Nestle 1482.20
Britannia Inds 5519.20
LT Foods 430.65
Hatsun Agro Product 988.20
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