Milky Mist IPO Allotment Expected Today; Stock Commands 19% Premium Ahead of Listing
Temasek-backed Milky Mist Dairy Food is set to finalize the basis for allotment of its Rs 1,553-crore initial public offering today, August 14. The issue generated significant interest during its three-day bidding period, with strong demand noted across all investor categories.The IPO was subscribed at 56.12 times by the close of bidding on August 13, according to data from the National Stock Exchange (NSE). Qualified Institutional Buyers (QIBs) led the surge in interest, subscribing the issue 155.83 times. Retail Individual Investors (RIIs) showed robust support, securing the offering at 8.40 times.
Milky Mist IPO: Demand Analysis and Market Sentiment
The initial price band for the shares was fixed at Rs 133 to Rs 140 per equity share. The issue provides a fresh issue of Rs 1,428 crore and an Offer for Sale (OFS) component totaling Rs 125 crore. This structure offers investors exposure to both company growth and promoter shareholder sales.The minimum lot size was set at 107 shares. At the upper price band of Rs 140 per share, a retail investor needed to invest Rs 14,980 for one complete lot. By reaching the maximum price band, Milky Mist Dairy Food is expected to command a post-issue valuation of around Rs 10,778 crore.
Grey Market Premium Signals Potential Listing Rally
As of August 14, IPO tracking platforms indicate that the grey market premium (GMP) for Milky Mist shares stands at approximately Rs 26 per share. Based on this sentiment, an estimated listing price has been pegged near Rs 166. This projection translates into a potential listing premium of about 18.56 percent over the issue price.It is important to note that the GMP serves as an unofficial indicator of market optimism and does not guarantee the actual trading price or any specific listing gains. The final valuation will be determined by market demand upon listing on the BSE and NSE scheduled for August 18.
Financial Performance and Use of IPO Proceeds
Milky Mist has demonstrated a sharp improvement in its financial trajectory in FY26. Total income rose to Rs 3,145.01 crore from Rs 2,354.79 crore in the previous financial year, marking a growth of about 34 percent. Profit after tax (PAT) saw an even more significant increase, hitting Rs 127.01 crore compared to Rs 46.07 crore the prior year, translating to a yearly growth of approximately 176 percent.The company plans to strategically deploy an estimated Rs 1,121.41 crore from the net IPO proceeds. A substantial portion, Rs 496.86 crore, is earmarked for the repayment or prepayment of existing borrowings. Additionally, Rs 469.24 crore will be directed towards capital expenditure to expand and modernize its manufacturing facility in Perundurai, Tamil Nadu.
How Investors Can Check Milky Mist IPO Allotment Status
The allotment basis is scheduled to be finalized on August 14, with refunds and demat credit expected on August 17. Qualified Institutional Buyers (QIBs) received up to 50 percent of the net issue, while retail investors were assured at least 35 percent.Investors can verify their allotment status through KFin Technologies, the designated registrar for the issue. A check can be completed by visiting KFin Technologies and entering PAN or application details after selecting Milky Mist Dairy Food from the IPO list. The process mirrors steps available on both the BSE and NSE websites for applicant verification.
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