Milky Mist Dairy Food set to launch its ₹1,553 crore IPO on August 11, with grey market premiums indicating a modest first-day gain amid investor anticipation for India’s potentially largest dairy offering.
Milky Mist Dairy Food is due to open its ₹1,553 crore initial public offering on August 11, with grey market chatter suggesting a modest first-day gain. NDTV Profit said the unofficial premium stood at ₹26 on August 10, which would imply a listing price of about ₹166 a share, or a premium of 18.57% to the upper end of the ₹133 to ₹140 price band. Grey market premiums are not an official gauge and can diverge sharply from the eventual market debut.
The issue combines a fresh sale of 10.20 crore shares worth ₹1,428 crore with an offer for sale of 89 lakh shares worth ₹125 crore, according to the company’s offer details. Investors need to apply for at least 107 shares, putting the minimum retail outlay at ₹14,980 at the top end of the band. JM Financial is the book-running lead manager and Kfin Technologies is the registrar.
The subscription window is scheduled to close on August 13, with allotment finalisation on August 14. Refunds and share credit are due on August 17, ahead of a planned listing on August 18. The company said the proceeds will mainly go towards debt reduction, while also funding expansion and modernisation of its manufacturing base, supporting infrastructure and general corporate needs.
Founded in 2014, Milky Mist has built a sizeable packaged dairy business spanning cheese, paneer, butter, curd, ghee, yoghurt, ice cream and frozen foods, with brands including Milky Mist, SmartChef, Capella, Misty Lite, Briyas and Asal. The flotation follows a May 2026 pre-IPO placement in which Jongsong Investments, an indirect subsidiary of Temasek Holdings, invested ₹482 crore at ₹139.76 a share, valuing the company at about ₹9,300 crore. Industry reports have said the IPO could be the largest by an Indian dairy company.
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