Milky Mist Dairy Food Limited (“Milky Mist”) one of India’s fastest-growing packaged food companies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹2035 crorethrough an Initial Public Offering (IPO). The offer comprisesa fresh issue of up to ₹1785 crore and an offer for sale of up to ₹250 crore by promoter shareholders, Sathishkumar T and Anitha S.
Founded in Erode, Tamil Nadu, Milky Mist has established itself as a leading dairy brand in India, exclusively focused on premium value-added dairy products (VADPs), including paneer, cheese, yogurt, curd, ice cream, butter, ghee, and packaged foods. Unlike traditional dairy companies, Milky Mist does not sell liquid milk, enabling higher margins and strong positioning akin to FMCG companies.
With fully automated, tech-driven manufacturing facilities and an in-house logistics network of end to end distribution & control, Milky Mist ensures quality, efficiency, and real-time traceability. The company directly connects with over 67,000 farmers, securing a steady supply of high-quality milk.
Use of Net Proceeds
The Net Proceeds from the fresh issue of up to ₹1785 crorewill be utilized as follows:
Financial Performance
Business Highlights
ESG and Innovation
Milky Mist is committed to sustainability with water reprocessing plants, methane-to-energy conversion, solar and wind energy generation (70–80% of current needs), and eco-friendly logistics. The company also emphasizes health-focused product innovation, offering high-protein, lactose-free, and low-sugar products to cater to evolving consumer preferences.
Through the IPO, the company aims to capitalize on the rising demand for premium value-added dairy products, enhance manufacturing capacity, reduce debt, and reinforce its leadership in India’s dairy FMCG segment. JM Financial Limited, Axis Capital Limited and IIFL Capital Services Limited are the Book Running Lead Managers to the Issue.