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InvestmentsIPOMilky Mist Dairy Food IPO

Milky Mist Dairy Food IPO

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Open Date

11 Aug 2026

Close Date

13 Aug 2026

Min Investment

₹ 14,980

Lot Size

107

Issue Size

₹ 1553.20 Cr

Price Range

₹ 133 - ₹ 140

Subscribed

0.77 x
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status

IPO Open Now.

IPO Timeline
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IPO Offer Start
11 Aug 2026
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IPO Offer Ends
13 Aug 2026
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Allotment Finalisation
14 Aug 2026
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Refund Initialisation
17 Aug 2026
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Non-Institutional Buyers (sHNI)
17 Aug 2026
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Listing of Shares
18 Aug 2026
IPO Subscription Details as on 12 Aug 2026, 07:25 AM
Qualified Instituational Buyers (QiB)
0.39 x
Retail
0.93 x
Employees
2.04 x
Total
0.77 x
Non-Institutional Buyer (bHNI)
0.57 x
Non-Institutional Buyer (sHNI)
1.48 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Milky Mist Dairy Food Limited is the fastest growing packaged food company in India (among companies with revenue scale of more than ₹15,000 million) with a CAGR of 31.26% from Fiscal 2024 to Fiscal 2026. The company is exclusively focused on value-added dairy products including paneer, cheese, curd, butter, ghee, yogurt, ice cream, UHT long-shelf life products, and other products including frozen foods, RTE and RTC products, as well as chocolates under the umbrella brand 'Milky Mist' and sub-brands. The company operates an integrated farm-to-retail infrastructure with one manufacturing facility in Perundurai, Tamil Nadu, sourcing raw milk from 74,654 farmers across 25 districts.
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Founded In

2014

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CEO

Dr. K Rathnam

Financials of Milky Mist Dairy Food IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue1,821.612,349.503,138.36
Other Income5.255.296.65
Total Income
1,826.862,354.793,145.01
Total Expenses
1,784.172,267.252,986.52
Profit Before Tax42.6987.55158.49
Total Profit
19.4446.07127.01

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilize funds towards repayment/prepayment of all or a portion of certain outstanding borrowings. This will help reduce outstanding indebtedness, debt servicing costs, improve debt-to-equity ratio and enable utilization of internal accruals for further investment in business growth and expansion.497
The company proposes to utilize funds towards expansion and modernisation of its Perundurai Manufacturing Facility, comprising setting up of new product lines, expansion of existing product lines, warehouse for cold and dry products, and procurement of trucks for business operations.469
The company intends to deploy refrigeration units at retail touchpoints to create consistent visual identity across retail locations, increase brand recall value, strengthen competitive positioning and support cold chain infrastructure needed to maintain product quality at retail level.155
The company intends to deploy any balance funds towards general corporate purposes including meeting ongoing corporate expenses, funding organic and inorganic growth opportunities, marketing and brand building exercises, working capital requirements, and investment in subsidiary, subject to not exceeding twenty five percent of gross proceeds.-
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  • Fastest Growing Packaged Food Company with Established Brand Equity: The company is the fastest growing packaged food company (among companies with revenue scale of more than ₹15,000 million) in India, growing at a CAGR of 31.26% from Fiscal 2024 to Fiscal 2026, with leadership positions across various product categories including 19% market share in organized packaged paneer market.
  • Diversified and Expanding Product Categories: The company offers 22 product categories with 640 SKUs as of March 31, 2026, including paneer, cheese, curd, butter, ghee, yogurt, ice cream, and UHT products. Between April 2022 to March 2026, the company introduced 538 new SKUs contributing ₹8,836.74 million (28.16% of revenue) in Fiscal 2026.
  • Advanced Manufacturing Capabilities Enhanced by Automation: The company operates a manufacturing facility equipped with advanced machinery including automated paneer manufacturing line with robotic operations, automatic cheese-making machines, and automated UHT lines. The facility has installed capacity of 192 metric tons per day for paneer, making it one of the largest in India amongst organized private peers.
  • Direct Sourcing and Focused Engagement with Farmers: The company sources raw milk from 74,654 farmers as of March 31, 2026, with 74.34% procured directly from farmers in Fiscal 2026. The company operates 3,907 automated milk collection units and 29 chilling centers, ensuring quality through a three-tier milk procurement process.
  • Multi-channel Sales with Own Logistics Infrastructure: The company operates across multiple sales channels reaching 22 states and 5 union territories through 4,001 distributors and over 3,75,000 retail touchpoints. The company manages its own logistics with 63 milk vans, 282 reefer trucks, and 34 ambient trucks, achieving one of the lowest transportation costs among listed peers.
  • Focus on Sustainability: The company generates 29 MW renewable energy from solar plants and 2 MW from wind plant, meeting approximately 75% of total energy requirement from renewable sources. The company operates water-upcycling plant with capacity of 2.15 million litres per day and uses 26 electric vehicles as of March 31, 2026.
  • Experienced Management Team Delivering Financial Growth: The company is led by experienced promoters with over 27 years and 24 years of experience in dairy industry. Revenue from operations increased at CAGR of 31.26% from Fiscal 2024 to Fiscal 2026, reaching ₹31,383.64 million in Fiscal 2026 with EBITDA margin of 13.87%.

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