Milky Mist Dairy Food has secured approximately ₹465 crore from anchor investors ahead of its planned IPO, signalling robust institutional interest and a potential market leadership in India’s dairy sector.
Milky Mist Dairy Food has raised about ₹465 crore from anchor investors ahead of its proposed initial public offering, allotting roughly 3.32 crore equity shares to 19 investors at the top of its price band, ₹140 a share, according to The Hindu BusinessLine. Domestic mutual funds took about 1.54 crore shares through 13 schemes, underscoring strong institutional interest in the dairy company’s market debut.
The anchor placement adds another layer to a capital-raising programme that has already drawn heavyweight backing. Earlier this year, Milky Mist said it had raised about ₹482 crore in a pre-IPO round led by Jongsong Investments, a Temasek subsidiary, combining a primary infusion of roughly ₹357 crore with a secondary sale of about ₹125 crore. That transaction included compulsorily convertible preference shares that will convert into equity before listing, according to company disclosures reported by Business Standard and Mint.
Milky Mist’s planned IPO has also received regulatory clearance. Kotak Neo and Business Standard reported that the Securities and Exchange Board of India cleared an issue of up to ₹2,035 crore, comprising a fresh issue of up to ₹1,785 crore and an offer for sale of up to ₹250 crore by the promoters, Sathishkumar T and Anitha S. The company has said it intends to use about ₹750 crore of the fresh proceeds to repay debt and around ₹414 crore to expand and modernise its Perundurai facility in Tamil Nadu.
Founded around a value-added dairy model, Milky Mist has built a portfolio that stretches well beyond milk, including cheese, butter, ghee, yoghurt, ice cream and ready-to-cook products. The company markets goods under the Milky Mist brand as well as labels such as SmartChef, Capella and Misty Lite, and has sought to position itself as a premium packaged-food business with integrated sourcing, processing and distribution.
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