Milky Mist Dairy Food Ltd has raised ₹482 crore in a pre-IPO funding round led by Jongsong Investments Pte. Ltd, an indirect wholly owned subsidiary of Singapore’s Temasek Holdings, strengthening its financial position ahead of its planned public listing.
The transaction comprises a primary capital infusion of about ₹357 crore into the company and a secondary share sale of around ₹125 crore by promoters, signalling both fresh capital inflow and partial stake dilution ahead of the IPO.
As part of the deal, shares were issued at ₹139.76 per share, valuing the company at approximately ₹9,300 crore post-money, reflecting a recalibration from earlier higher valuation expectations. (Moneycontrol)
The company allotted 5,43,789 equity shares and 25 lakh compulsorily convertible preference shares (CCPS) at the same price, raising roughly ₹357 crore in primary capital, while promoters sold 89,43,903 shares aggregating about ₹125 crore.
Milky Mist, which had earlier received regulatory approval for a ₹2,035 crore IPO, plans to use proceeds for debt reduction, capacity expansion, and strengthening its value-added dairy portfolio, as it prepares for its market debut amid growing investor interest in India’s premium dairy segment.
Source: Dairynews7x7 5 May, 2026 Read full story here
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