Tamil Nadu-based Milky Mist Dairy Food Ltd., one of India’s leading value-added dairy companies, is expected to launch its Initial Public Offering (IPO) in the first week of August 2026, marking what is likely to be the largest IPO by an Indian dairy company. The move follows the company’s ₹482 crore pre-IPO funding round in May 2026 from Jongsong Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek Holdings, which valued Milky Mist at approximately ₹9,300 crore based on a share price of ₹139.76.
Following the pre-IPO investment, the company now plans to raise ₹1,553 crore through its IPO, comprising a fresh issue of equity shares and an offer for sale (OFS) by promoters. Earlier draft papers had proposed a ₹2,035 crore public issue. The proceeds from the fresh issue will be used to repay borrowings, expand and modernize the company’s Perundurai manufacturing facility by establishing whey protein concentrate, yogurt and cream cheese plants, strengthen its cold-chain network through additional visi coolers, ice cream freezers and chocolate coolers, and support general corporate purposes.
Founded in Erode, Tamil Nadu, Milky Mist has built its business exclusively around value-added dairy products, including paneer, cheese, curd, yoghurt, butter, ghee and ice cream, without operating in the liquid milk segment. The IPO will be managed by JM Financial, Axis Capital and IIFL Capital Services, reflecting continued investor confidence in India’s fast-growing premium dairy segment and the increasing focus on value addition within the dairy industry. (Moneycontrol)
Source: Dairynews7x7 24 July, 2026 Read full story here
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