Milky Mist Dairy Food Ltd. is preparing to launch a ₹20.35 billion (USD 213 million) initial public offering as early as the end of July or early August 2026, a move expected to become India’s largest-ever dairy sector IPO, according to people familiar with the matter.
The Tamil Nadu-based company has completed investor roadshows, although a company representative declined to comment on the proposed timeline. The IPO comes at a challenging time for listed dairy companies, with Parag Milk Foods down 20%, Dodla Dairy declining about 11%, and Hatsun Agro Product slipping 7.5% so far this year.
The proposed issue comprises a fresh issue of shares worth up to ₹17.85 billion and an offer for sale (OFS) of up to ₹2.5 billion by the founders. The draft prospectus also allows the company to raise up to ₹3.57 billion through a pre-IPO placement, which would reduce the size of the fresh issue. Milky Mist plans to use the proceeds to expand its manufacturing capacity and repay debt.
The IPO is being managed by JM Financial Ltd., Axis Capital Ltd., and IIFL Capital Services Ltd. as the book-running lead managers. (Moneycontrol)
Source: Dairynews7x7 11 July, 2026 Read full story here
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