Milky Mist files DRHP with SEBI for Rs 2035 crore IPO

Milky Mist Dairy Food has filed the Draft Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The issue size is Rs 2035 crores, of which up to Rs 1785 crores is fresh issue, and up to Rs 250 crores is an Offer for Sale (OFS).
The company based in Erode, was founded by T. Sathish Kumar in 1985. Milky Mist is known for its wide range of dairy and value-added products, and it offers innovative solutions for personal and commercial use. The company operates with a focus on expanding presence outside South India to become a leading differentiated dairy major.

The proceeds from the fresh issue will be utilised for multiple purposes. ₹750 crores will be allocated for repayment and prepayment of existing debt, while ₹414 crores will be directed towards expansion and modernisation of its manufacturing facility in Perundurai. The modernisation includes installation of whey protein concentrate, yogurt, and cream cheese plants to enhance the company’s production capabilities.

The offering’s book running lead managers include JM Financial and IIFL Capital Services.