Milky Mist IPO: Price band set at ₹133-140 per share; check key dates, issue details

Milky Mist IPO price band: The Milky Mist Dairy Food Limited IPO price band has been fixed in the range of ₹133 to ₹140 per equity share of the face value of ₹2. The Milky Mist IPO date of subscription is scheduled for Tuesday, 11 August and will close on Thursday, 13 August. The allocation to anchor investors for the Milky Mist IPO is scheduled to take place on Monday, 10 August.

The Milky Mist IPO lot size is 107 equity shares and in multiples of 107 equity shares thereafter.

Milky Mist IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, Milky Mist IPO basis of allotment of shares will be finalised on Friday, 14 August and the company will initiate refunds on Monday, 17 August, while the shares will be credited to the demat account of allottees on the same day following refund. Milky Mist share price is likely to be listed on BSE and NSE on Tuesday, 18 August.

Milky Mist IPO details

Milky Mist's IPO size has been revised to ₹1,553 crore from the ₹2,035 crore proposed in the draft red herring prospectus (DRHP) filed in July 2025, following the company's ₹357-crore pre-IPO fundraising. The company raised the capital by issuing 5.43 lakh equity shares and 2.5 crore compulsorily convertible preference shares (CCPS) at ₹139.76 apiece, implying a valuation of over ₹10,700 crore.

Following the pre-IPO placement, the promoters hold a 93% stake in the company, while public shareholders own the remaining 7%, including Jongsong Investments, a Temasek Holdings subsidiary, which holds a 5.16% stake.

The company intends to utilise ₹496.8 crore from the fresh issue proceeds towards the repayment or prepayment of borrowings, which stood at ₹1,390.7 crore as of May 2026. It will also invest ₹469.2 crore to expand and modernise its Perundurai manufacturing facility in Tamil Nadu, while ₹155.3 crore will be allocated for deploying visi coolers, ice cream freezers, and chocolate coolers. The remaining proceeds will be used for general corporate purposes.

JM Financial, Axis Capital, and IIFL Capital Services are the book-running lead managers to the issue.

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