Milky Mist Dairy Food IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹14,980
1 lot · 107 shares at the upper price band
Price band
₹140
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹1553 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹140
- Issue size
- ₹1553 Cr
- Lot size
- 107
- Opens
- 11 Aug 2026
- Closes
- 13 Aug 2026
- Allotment
- 14 Aug 2026
- Listing
- 18 Aug 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹14,980 (1 lot · 107 shares)
- Face value
- ₹2 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹1,428 Cr
- Offer for sale
- ₹125 Cr
- Listing at
- BSE, NSE
- Refunds
- 17 Aug 2026
- Shares credited
- 17 Aug 2026
- Promoter holding
- 93% before · 79.51% after
- Lead managers
- JM Financial Ltd., Axis Capital Ltd., IIFL Capital Services Ltd.
Offer documents & links
Subscription by category
As of 13 Aug 2026, 1:24 pm.
Total subscription
41.38x
Full issue details
Details as published for this issue, read 11 Sept 2026, 4:57 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 11 to 13 Aug, 2026 |
|---|---|
| Listed on | Tue, Aug 18, 2026 |
| Face Value | ₹ 2 per share |
| Price Band | ₹133 to ₹140 |
| Issue Price | ₹140 per share |
| Lot Size | 107 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 13.00 |
| Total Issue Size | 11,09,43,192 shares (agg. up to ₹ 1,553 Cr) |
|---|---|
| Fresh Issue | 10,20,14,622 shares (agg. up to ₹ 1,428 Cr) |
| Offer for Sale | 89,28,570 shares of ₹ 2 (agg. up to ₹ 125 Cr) |
| Share Holding Pre Issue | 66,78,28,789 shares |
| Share Holding Post Issue | 76,98,43,411 shares |
| BSE Script Code / NSE Symbol | 544868 / MILKYMIST |
| ISIN | INE00IT01020 |
IPO Timetable
- IPO Open
- Tue, Aug 11, 2026
- IPO Close
- Thu, Aug 13, 2026
- Allotment
- Fri, Aug 14, 2026
- Refund
- Mon, Aug 17, 2026
- Credit of Shares
- Mon, Aug 17, 2026
- Listing
- Tue, Aug 18, 2026
Issue Reservation
| Investor Category | Shares | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB | 5,53,92,855 | 50.00% | 49.93% | NA |
| − Anchor Investor | 3,32,35,713 | — | 29.96% | NA |
| − QIB (Ex. Anchor) | 2,21,57,142 | — | 19.97% | NA |
| NII (HNI) | 1,66,17,857 | 15.00% | 14.98% | NA |
| − bNII > ₹10L | 1,10,78,572 | — | 9.99% | 7,395 |
| − sNII < ₹10L | 55,39,285 | — | 4.99% | 3,697 |
| Retail | 3,87,75,000 | 35.00% | 34.95% | 3,62,383 |
| Preferential Reservations | ||||
| Employee | 1,57,480 | — | 0.14% | NA |
| Total | 11,09,43,192 | 100.00% | 100.00% | — |
Milky Mist Dairy Food IPO comprises a total issue size of 11,09,43,192 shares. The net offer to the public is 11,07,85,712 shares, after excluding 1,57,480 shares under a preferential allotment. Of the Net offer 5,53,92,855 (50.00%) are allocated to QIB , 1,66,17,857 (15.00%) allocated to NII 3,87,75,000 (35.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1391 | ₹1,94,740 |
| S-HNI (Min) | 14 | 1498 | ₹2,09,720 |
| S-HNI (Max) | 66 | 7062 | ₹9,88,680 |
| B-HNI (Min) | 67 | 7169 | ₹10,03,660 |
Investors can bid for a minimum of 107 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Mon, Aug 10, 2026 |
|---|---|
| Shares Offered | 3,32,35,713 |
| Anchor Portion (₹ Cr.) | 465.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 12, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 11, 2026 |
Milky Mist Dairy Food IPO raises ₹ 465.30 crore from anchor investors . Milky Mist Dairy Food IPO Anchor bid date is August 10, 2026 .
IPO Anchor Investors List
Investor Category Reservations
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹5 Lakhs | Yes |
| Employee + RII/NII | Up to ₹5Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
About Milky Mist Dairy Food Ltd.
Incorporated in July 2014, Milky Mist Dairy Food Limited is one of India's fastest-growing packaged food companies focused on premium value-added dairy products. The company manufactures and markets a diversified portfolio including cheese, paneer, butter, curd, ghee, yogurt, ice cream, UHT products, frozen foods, ready-to-eat (RTE), ready-to-cook (RTC) foods, and chocolates under its flagship brand 'Milky Mist' and sub-brands such as SmartChef, Capella, Misty Lite, Briyas, and Asal.
The company operates an integrated farm-to-consumer business model, directly sourcing milk from farmers and processing it through advanced automated manufacturing facilities. Supported by its own cold-chain logistics network and multi-channel distribution system, Milky Mist serves customers across India while focusing on innovation, premium product offerings, and sustainable manufacturing practices.
The company is supported by advanced manufacturing infrastructure, technology-driven processes, experienced management, and a workforce of 1,317 permanent employees across manufacturing, sales & marketing, quality control, and milk collection operations.
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.
Company Financials (Restated Consolidated)
| 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 ₹ Crore |
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.
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 | 206.62 |
| 5 | Issue Expenses | 108.72 |
| Total | 1,436.75 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 32.12% | 15.11% |
| ROCE | 11.73% | 9.54% |
| Debt/Equity | 3.61 | 4.20 |
| RoNW | 33.60% | 18.98% |
| PAT Margin | 4.05% | 1.96% |
| EBITDA Margin | 13.87% | 13.21% |
| NAV | 5.87 | 3.78 |
| Price to Book Value | — | 37.04 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 1.90 | 1.65 |
| P/E (x) | 73.68 | 84.85 |
| Market Cap at Offer Price | ₹9,350Cr. | ₹13,972.66 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 93% | 79.51% |
| Public | 7.00% | 20.49% |
| Total | 100% | 100% |
Company Promoters: Sathishkumar T and Anitha S.
Offer For Sale - Selling Shareholders
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| Sathishkumar T. | Promoter | 53,57,142 | 74.99 |
| Anitha S. | Promoter | 35,71,428 | 49.99 |
| Total | — | 89,28,570 | 124.98 |
Milky Mist Dairy Food IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 4 | 1 | 1 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 164.03 | 2,21,57,144 | 3,63,45,17,685 |
| NII | 36.75 | 1,66,17,857 | 61,07,43,267 |
| bNII (> ₹10L) | 39.09 | 1,10,78,571 | 43,30,28,037 |
| sNII (< ₹10L) | 32.08 | 55,39,286 | 17,77,15,230 |
| Retail | 8.86 | 3,87,75,000 | 34,34,70,321 |
| Employee | 13.15 | 1,57,480 | 20,71,199 |
| Total | 59.08 | 7,77,07,481 | 4,59,08,02,472 |
The Milky Mist Dairy Food IPO is subscribed 59.08 times on August 13, 2026 6:54:44 PM (Day 3). The public issue subscribed 8.86 times in the retail category, 164.03 times in the QIB category, and 36.75 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 28,60,413
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees and commissions payable to the Book Running Lead Managers (including any underwriting commission, brokerage and selling commission) | 41.23 |
| 2 | Advertising and marketing expenses for the Offer | 21.43 |
| 3 | Fees payable to the Registrar to the Offer | 0.36 |
| 4 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.98 |
| 5 | Printing and distribution of Offer stationery | 0.91 |
| 6 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 7.43 |
| 7 | Fees payable to legal counsels | 8.87 |
| 8 | Other regulatory expenses | 1.00 |
| 9 | Miscellaneous | 24.50 |
| Total | 108.72 |
📰 Milky Mist Dairy Food Ltd. - Useful Articles
› Milky Mist Dairy Food IPO: Top Reasons Investors Are Watching This Upcoming IPO
› Milky Mist Dairy Food IPO: Everything You Need To Know Before Investing
Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹ 140.00 | ₹ 140.00 |
| Open | ₹ 165.00 | ₹ 165.00 |
| Low | ₹ 165.00 | ₹ 165.00 |
| High | ₹ 181.45 | ₹ 181.50 |
| Last Trade | ₹ 181.45 | ₹ 181.50 |
Check IPO Performance…
IPO Registrar
Kfin Technologies Ltd.
040-79615565
milky.ipo@kfintech.com
IPO Lead Manager(s)
JM Financial Ltd.
Axis Capital Ltd.
IIFL Capital Services Ltd.
Contact Details
Milky Mist Dairy Food Ltd. Address
SF No. 43/1-4,
Pattakaranpalayam,
Perundurai
Erode, Tamil Nadu , 638057
91 424 2533248
investor@milkymist.com
Milky Mist Dairy Food IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Milky Mist Dairy Food shares slip 4% after sharp post-listing rally
economictimes.com · 20 Aug 2026
Milky Mist Dairy Food shares end nearly 30 pc higher in market debut trade
hospitality.economictimes.indiatimes.com · 19 Aug 2026
Milky Mist shares hit another 10% upper circuit, rallying 43% from IPO price. Should you buy, sell or hold
economictimes.com · 19 Aug 2026
Newly-listed Milky Mist shares hit 10% upper circuit for second day
Moneycontrol.com · 19 Aug 2026
Milky Mist IPO Listing: Shares Debut at ₹165, Gain 18%; Stock Rises 29.64% From Issue Price
India Infoline · 18 Aug 2026
Milky Mist Dairy Food shares list at 18% premium over IPO price
economictimes.com · 18 Aug 2026
Milky Mist Dairy Food IPO listing date today. Here’s what GMP, experts hint ahead of debut
Livemint · 18 Aug 2026
