Now Reading: Milky Mist fixes Rs 1,553 crore IPO price band at Rs 133-140
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Milky Mist fixes Rs 1,553 crore IPO price band at Rs 133-140
Milky Mist Dairy Food will open its Rs 1,553 crore initial public offering on August 11, with the issue closing on August 13. The price band is Rs 133 to Rs 140…
The Story in Brief
Milky Mist Dairy Food will open its Rs 1,553 crore initial public offering on August 11, with the issue closing on August 13. The price band is Rs 133 to Rs 140 a share. The offer includes a fresh issue of Rs 1,428 crore and an offer for sale of Rs 125 crore. The Hindu reports that the company plans to use part of the proceeds to repay debt and fund investments. Investors must bid for at least 107 shares, requiring Rs 14,980 at the upper price. Shares are proposed to list on BSE and NSE.
The Erode-based company makes paneer, curd, cheese, butter, chocolates and ice cream. Mint reports that South India contributed 69.23% of FY26 revenue and paneer accounted for 29.42%. The company plans to expand its Perundurai facility and cold-chain network.
The Indian Opinion
The easy story is that a popular paneer brand can sail past Amul and Mother Dairy, while the opposite claim says cooperatives leave no room for private challengers. Both miss the operating test. Milky Mist has regional concentration, debt and a premium-priced portfolio, even as value-added dairy grows. Investors should watch whether expansion broadens revenue beyond South India and whether debt falls from Rs 1,390.7 crore after the issue.
Sources (3): thehindu.com, thehindubusinessline.com, livemint.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
