Milky Mist Dairy Food Set to Surge as Market Bets High Listing Gain
Shares of Milky Mist Dairy Food are poised for their stock market debut on the BSE and NSE on Tuesday, August 18. The company’s listing is generating significant pre-market enthusiasm, with the shares currently commanding a 14% grey market premium (GMP). This strong indicator suggests investors anticipate a robust listing gain over the IPO price.IPO Performance and Market Reception
The Rs 1,553 crore IPO was priced at Rs 140 per share. The offering comprised a fresh issue of 10.20 crore shares valued at Rs 1,428 crore, complemented by an Offer for Sale (OFS) of 89 lakh shares worth Rs 125 crore.
The public subscription drive, which ran from August 11 to August 13, was met with overwhelming investor demand. The IPO was subscribed a total of 56.12 times. Qualified Institutional Buyers (QIBs) demonstrated particularly fierce interest, subscribing the retail portion at 8.41 times and the QIB category at an impressive 155.83 times.
Investor confidence pre-dates the listing. Anchor investors contributed Rs 465.29 crore to the issue. The company allotted 3.32 crore equity shares to 19 investors, all at the upper price band of Rs 140 per share, within the IPO's defined price band of Rs 133–140.
Financial Strength Underpins Listing Demand
Milky Mist Dairy Food showcased a significant turnaround in its financial health during FY26. Total income saw a healthy rise of 34% year-on-year, climbing to Rs 3,145.01 crore from Rs 2,354.79 crore in the preceding fiscal year (FY25).
The company's profitability also experienced a sharp upward trajectory. Profit after tax (PAT) jumped an exceptional 176%, reaching Rs 127.01 crore in FY26 compared to Rs 46.07 crore in the previous financial year. These robust results provide a solid foundation for the company as it prepares for market listing.
IPO Proceeds Aimed at Expansion and Deleveraging
The net proceeds raised from the IPO, totaling an estimated Rs 1,121.41 crore, are strategically earmarked to strengthen the company’s balance sheet and fund substantial expansion. The deployment reflects a dual focus on reducing debt and enhancing market reach.
Of the funds, Rs 496.86 crore will be utilized to repay or prepay certain outstanding borrowings. Furthermore, a significant portion of Rs 469.24 crore is dedicated to capital expenditure (CapEx) for the expansion and modernization of its Perundurai manufacturing facility.
The company also plans to invest Rs 155.31 crore in essential cold-chain technology, including visi coolers, ice cream freezers, and chocolate coolers. The remainder of the proceeds will be applied toward general corporate purposes.
Company Profile: The Milky Mist Advantage
Incorporated in July 2014, Milky Mist Dairy Food is an ascending Indian packaged food company specializing in premium and value-added dairy products. Its extensive portfolio encompasses cheese, paneer, butter, curd, ghee, yogurt, ice cream, UHT products, ready-to-eat (RTE) foods, and chocolates.
The brand operates via a complete integrated farm-to-consumer model, securing milk directly from farmers before processing it through automated facilities. Milky Mist employs an in-house cold-chain logistics network and a multi-channel distribution system to serve customers nationwide across India. The company maintains a workforce of 1,317 permanent employees dedicated to quality control, manufacturing, sales, and marketing.
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