Milky Mist Dairy Food Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹133 - ₹140
- Lot size
- 107 shares
- Issue amount
- ₹1,553 cr
- Total subscription
- 59.07×
- Opens
- 11 Aug 2026
- Closes
- 13 Aug 2026
- Allotment
- 14 Aug 2026
- Listing
- 18 Aug 2026
Offer at a glance
Issue overview
- Issue size
- 11,09,43,194 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹14,231
- Fresh issue
- ₹1,428 cr
- Offer for sale
- ₹125 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,980
- Issue type
- Bookbuilding IPO
- Shares before issue
- 66,78,28,789
- Shares after issue
- 76,98,43,412
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 107 | ₹14,980 |
| sHNI | 14 | 1,498 | ₹2,09,720 |
| bHNI | 67 | 7,169 | ₹10,03,660 |
Share reservation
Subscription & GMP
Subscription by category
Reported 13 Aug 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 3,62,383 | 26,83,133 |
| EMPLOYEES | 0 | 12,657 |
| HNIs(10L +) | 7,396 | 58,994 |
| HNIs (2-10L) | 3,698 | 1,14,495 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 310.2 | 50,883.25 |
| FIIs | 0 | 19,105.91 |
| FIs | 0 | 23,483.11 |
| Mutual Funds | 0 | 3,875.96 |
| Others | 0 | 4,418.27 |
| RETAIL | 542.85 | 4,803.27 |
| HNIs 2+ | 77.55 | 2,488.01 |
| HNIs 10+ | 155.1 | 6,062.39 |
| EMPLOYEES | 2.2 | 29 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 1.98 | 0.72 | 0.3 |
| ROE | 32.12 | 15.11 | 7.14 |
| ROCE | 11.73 | 9.54 | 8.14 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 70.7 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Bikaji Foods International Limited | 62.33 | 642.05 | 1.00 | 64.03 | 16.07 | 10.31 |
| Britannia Industries Limited | 51.98 | 5467.70 | 1.00 | 212.01 | 49.61 | 105.18 |
| Dodla Dairy Limited | 24.26 | 1073.65 | 10.00 | 277.50 | 15.95 | 44.26 |
| Hatsun Agro Product Limited | 58.20 | 930.65 | 1.00 | 87.30 | 18.32 | 15.99 |
| Nestle India Limited | 79.76 | 1447.70 | 1.00 | 26.74 | 67.85 | 18.15 |
| Parag Milk Foods Limited | 21.28 | 224.90 | 10.00 | 93.44 | 10.73 | 11.06 |
| Tata Consumer Products Limited | 70.08 | 1091.80 | 1.00 | 220.02 | 7.08 | 15.59 |
| Milky Mist Dairy Food Limited | 70.70 | 140.00 | 2.00 | 5.87 | 33.60 | 1.98 |
Company information
Company profile
Incorporated in 2014, Milky Mist Dairy Food Limited is an Indian dairy company involved in manufacturing and distributing a wide range of dairy and frozen food products. The company began by introducing branded packaged paneer in India and later expanded into products such as curd, ghee, butter, cheese, yogurt, ice cream, UHT long-life products, chocolates and sweetened condensed milk. It follows an integrated farm-to-retail model, sourcing raw milk directly from over 67,000 farmers across Tamil Nadu, Andhra Pradesh and Karnataka, and operates manufacturing facilities in Perundurai, Tamil Nadu for value-added dairy products and Bengaluru, Karnataka for frozen and ready-to-eat or ready-to-cook foods. As of March 31, 2025, the company had a strong logistics network and a wide distribution presence across 22 states and 5 union territories, serving more than 350,000 retail outlets through multiple sales channels. Milky Mist holds a significant share in the organised packaged paneer and cheese markets, exports to over 15 countries, and employed 1,524 permanent staff as of the same date.
Strengths
- Advanced & Automated Manufacturing: The company operates modern manufacturing facilities with advanced automation, enabling efficient production, consistent product quality, and large-scale output.
- Strong Direct Milk Sourcing Network: The company sources milk directly from over 67,000 farmers, ensuring better quality, transparent procurement, and long-term relationships with dairy farmers.
- Experienced Management Team: The company is led by experienced promoters and a professional leadership team with strong expertise in the dairy and food industry, supporting innovation and long-term growth.
Risk factors
- Dependence on a Single Manufacturing Facility: The company relies heavily on its main manufacturing facility. Any disruption or shutdown at this plant could affect production, revenue, and business operations.
- Regulatory & Compliance Risk: The company requires various licenses and approvals to operate. Delays in obtaining or renewing them, or non-compliance with regulations, could impact business operations.
- Product Safety & Contamination Risk: Any contamination, improper storage, or quality issues in dairy products could lead to regulatory action, damage the company's reputation, and affect sales.
Promoters
T. Sathish Kumar
Anitha S
Registrar & documents
Lead manager
Axis Capital Limited, IIFL Capital Services Limited, Jm Financial Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Milky Mist Dairy Food Ltd., SF No. 43/1-4, Pattakaranpalayam, Perundurai, Erode, Tamil Nadu, 638057
91 424 2533248
[email protected]Company website ↗Understanding MILKYMIST IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.