# Milky Mist IPO opens; eyes West and North India without fresh debt 2026-08-12T18:12:44+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets Milky Mist Dairy Food's Rs 1,553-crore IPO opened on August 11 at Rs 133-140 per share. The company raised Rs 465 crore from anchor investors. It plans to use Rs 500 crore of the proceeds to repay debt and expand into West and North India, including a new Maharashtra facility, without fresh debt. The company's net debt stood at Rs 1,671 crore. It has already repaid Rs 300 crore from a pre-IPO placement. CEO Dr K Rathnam said the company targets Tier 1,2,3 cities and aims to grow its consumer base from 1 crore to 5-10 crore. The grey market premium (GMP) is Rs 20.5, implying a 14.6% listing premium. The issue closes on August 13. ## Coverage - thehindu.com - timesnownews.com Tags: dairy, debt repayment, India expansion, IPO, Milky Mist, packaged food Canonical: https://indianopinion.org/milky-mist-plans-expansion-without-fresh-debt-targets-tier-1-3-cities/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/milky-mist-plans-expansion-without-fresh-debt-targets-tier-1-3-cities/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.