Tamil Nadu-based packaged food company Milky Mist Dairy Food will continue with its planned IPO (initial public offering), the financial media quoted its CEO K Rathnam as saying.
Milky Mist had filed its Draft Red Herring Prospectus (DRHP) with SEBI on 21 July 2025, seeking to raise up to ₹2,035 crore through an initial public offering, and received approval in October 2025. The issue comprises a fresh issue of ₹1,785 crore and an offer-for-sale (OFS) of ₹250 crore by promoters Sathishkumar T and Anitha S. The company plans to list its equity shares on the NSE and BSE.
The proceeds from the fresh issue will be used to repay outstanding borrowings, fund capital expenditure for expanding and modernising its Perundurai manufacturing facility, deploy visi coolers and freezers, and support general corporate purposes.
JM Financial, Axis Capital, and IIFL Capital Services are acting as Book Running Lead Managers, while KFin Technologies is the registrar.
Milky Mist reported strong financial growth, with revenue rising 28.98% from ₹1,821.61 crore in FY24 to ₹2,349.50 crore in FY25, reflecting a CAGR of 29.82% since FY23. The company offers a wide portfolio of value-added dairy and packaged food products, including cheese, paneer, curd, butter, ghee, yoghurt, ice cream, UHT milk, frozen foods, RTE and RTC items, and chocolates.
The consumer products ‌company bets on premium products such as Greek yogurt and protein-enhanced cottage cheese that have found popularity among India’s rapidly growing health-conscious, working-age population.
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Naresh Khanna – 10 February 2025
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