Milky Mist Dairy Food IPO
Bookbuilding IPO | ₹1,553.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Tue, Aug 11, 2026
IPO Close
Thu, Aug 13, 2026
Price Band
₹133.00 to ₹140.00
Market Cap (Pre-IPO)
₹10,777.81 Cr
IPO Details
| IPO Date | Aug 11, 2026 to Aug 13, 2026 |
| Listing Date | Tentative: Aug 18, 2026 |
| Face Value | ₹2.00 per share |
| Price Band | ₹133.00 to ₹140.00 |
| Lot Size | 107 Shares (Minimum: ₹14,980.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹1,553.00 Crores |
| Total Shares Offered | 110,943,193 shares |
| Fresh Issue | 102,014,623 shares |
| Offer For Sale | 8,928,570 shares |
Milky Mist Dairy Food IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Milky Mist Dairy Food IPO Lot Size
Investors can bid for a minimum of 107 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1,391 | ₹194,740 |
| S-HNI (Min) | 14 | 1,498 | ₹209,720 |
| S-HNI (Max) | 66 | 7,062 | ₹988,680 |
| B-HNI (Min) | 67 | 7,169 | ₹1,003,660 |
Milky Mist Dairy Food Financial Information (Restated Consolidated)
Milky Mist Dairy Food Ltd.'s revenue increased by 34% and profit after tax (PAT) rose by 176% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,676.46 | 2,150.59 | 1,606.26 |
| Total Income | 3,145.01 | 2,354.79 | 1,826.86 |
| Profit After Tax | 127.01 | 46.07 | 19.44 |
| EBITDA | 435.22 | 310.35 | 222.33 |
| NET Worth | 378.00 | 242.77 | 197.05 |
| Reserves and Surplus | 333.55 | 199.23 | 278.04 |
| Total Borrowing | 1,671.85 | 1,376.38 | 1,036.72 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 15.11% |
| ROCE (Return on Capital Employed) | 9.54% |
| Debt/Equity | 4.20 |
| RoNW (Return on Net Worth) | 18.98% |
| PAT Margin (Profit After Tax Margin) | 1.96% |
| EBITDA Margin | 13.21% |
| Price to Book Value | 37.04 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 1.90 | 1.65 |
| P/E (x) | 73.68 | 84.85 |
Company Overview
Milky Mist Dairy Food Ltd. – Company Overview
- Milky Mist Dairy Food Ltd. is engaged in the manufacturing and marketing of premium value-added dairy and packaged food products under its flagship 'Milky Mist' brand.
- The company follows an integrated farm-to-consumer model, directly sourcing milk from farmers and processing it through advanced manufacturing facilities.
- Product Portfolio:
- Cheese & Paneer
- Butter, Curd & Ghee
- Yogurt & Ice Cream
- UHT Products
- Frozen Foods
- Ready-to-Eat (RTE) & Ready-to-Cook (RTC) Foods
- Chocolates
- Its products are sold under brands including Milky Mist, SmartChef, Capella, Misty Lite, Briyas, and Asal.
- The company has its own cold-chain logistics network and multi-channel distribution system, enabling it to serve customers across India.
- Milky Mist focuses on product innovation, premium offerings, technology-driven manufacturing, and sustainable operations.
- As of the latest available information, the company had 1,317 permanent employees across manufacturing, sales & marketing, quality control, and milk collection operations.
Company Strengths
- One of India's fastest-growing packaged food companies with strong brand recognition in value-added dairy products.
- Diversified portfolio of premium dairy, frozen foods, RTE, RTC products, and chocolates.
- Advanced automated manufacturing facilities supported by technology-driven processes.
- Direct milk sourcing model with strong farmer engagement and procurement network.
- Extensive multi-channel distribution backed by its own cold-chain logistics infrastructure.
- Strong focus on sustainability, operational efficiency, and experienced management driving consistent growth.
Use of Proceeds
| 1) | Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by Company | 496.86 |
| 2) | Financing the capital expenditure requirements in relation to the expansion and modernisation of Perundurai Manufacturing Facility | 469.24 |
| 3) | Deployment of visi coolers, ice cream freezers and chocolate coolers | 155.31 |
| 4) | General corporate purposes | |
| Total | 1,121.41 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Milky Mist Dairy Food IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Milky Mist Dairy Food Ltd. | 1.98 | 1.97 | 5.87 | - | 33.60 | 28.00 | Consolidated |
| Bikaji Foods International | 10.31 | 10.30 | 64.03 | 62.33 | 16.07 | 10.03 | Consolidated |
| Britannia Industries | 105.18 | 105.18 | 212.01 | 51.98 | 49.61 | 25.79 | Consolidated |
| Dodla Dairy | 44.26 | 44.26 | 277.50 | 51.98 | 15.95 | 3.87 | Consolidated |
| Hatsun Agro Product | 15.99 | 15.99 | 87.30 | 58.20 | 18.32 | 10.69 | Consolidated |
| Nestle India | 18.15 | 18.15 | 26.74 | 79.76 | 67.85 | 55.65 | Consolidated |
| Parag Milk Foods | 11.06 | 10.57 | 93.44 | 21.28 | 10.73 | 2.41 | Consolidated |
| Tata Consumer Products | 15.59 | 15.58 | 220.02 | 70.08 | 7.08 | 4.96 | Consolidated |
Quick Info
| Sector | dairy and packaged foods |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹10,777.81 Cr |
Important Dates
| IPO Open | Aug 11, 2026 |
| IPO Close | Aug 13, 2026 |
| Allotment Date | Aug 14, 2026 |
| Credit to Demat | Aug 17, 2026 |
| Listing Date | Tentative: Aug 18, 2026 |
Lead Manager(s)
JM Financial Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹1,553.00 crores.
- Issue Structure: A combination of fresh issue of 10.20 crore shares aggregating to ₹1,428.00 crores and offer for sale of 0.89 crore shares aggregating to ₹125.00 crores.
- IPO Dates: The issue opens on August 11, 2026 and closes on August 13, 2026.
- Allotment Date: The allotment is expected to be finalized on August 14, 2026.
- Listing Details: The shares are proposed to be listed on both National Stock Exchange of India and BSE Limited on August 18, 2026.
- Retail Investment Requirement: Minimum 1 lot (107 shares) amounting to approximately ₹14,980 (at the upper price band).
- Issue Price Band: ₹133 to ₹140 per equity share.
- Lot Size: 107 shares per lot.
This IPO offers investors an opportunity to participate in the dairy and food products sector through a combination of a fresh issue of shares and an offer for sale by existing shareholders.