Milky Mist Dairy Food is poised to make its stock market debut on August 18, 2026, with shares expected to be credited to successful applicants' demat accounts following the allotment. The IPO, which was open from August 11 to August 13, saw an overwhelming subscription rate of 56.12 times, reflecting strong investor interest.
The IPO's retail investor portion was subscribed 8.41 times, while the qualified institutional buyers (QIBs) category was subscribed 155.83 times. Non-institutional investors (NIIs) also showed significant demand, with a subscription rate of 34.91 times. The Rs 1,553 crore issue included a fresh issue of 10.20 crore shares worth Rs 1,428 crore and an Offer for Sale (OFS) of 89 lakh shares valued at Rs 125 crore.
Milky Mist Dairy Food successfully raised Rs 465.29 crore from anchor investors by allotting 3.32 crore equity shares at the upper price band of Rs 140 per share. The IPO had a price band of Rs 133–140 per share with a lot size of 107 shares. JM Financial Ltd. was the book-running lead manager, and Kfin Technologies Ltd. acted as the registrar.
Investors can check their allotment status through the registrar's website or the NSE IPO Allotment page by entering their PAN, application number, or DP/Client ID. The IPO is also generating buzz in the grey market, with a Grey Market Premium (GMP) suggesting a potential listing gain of around 19% over the upper issue price of Rs 140.
Milky Mist Dairy Food plans to use the IPO proceeds to strengthen its balance sheet and fund expansion. The company aims to repay or prepay Rs 496.86 crore of borrowings and allocate Rs 469.24 crore for capital expenditure at its Perundurai facility. Additionally, Rs 155.31 crore will be invested in deploying coolers to enhance distribution.
The company's financial performance in FY26 showed a 34% increase in total income to Rs 3,145.01 crore and a 176% rise in profit after tax to Rs 127.01 crore. This strong performance underscores the company's growth trajectory and investor confidence.
Background
Milky Mist Dairy Food, incorporated in July 2014, has rapidly grown in the Indian packaged food sector, focusing on premium and value-added dairy products. The company's integrated farm-to-consumer model and investment in technology-driven manufacturing have bolstered its market presence.
As Milky Mist Dairy Food prepares for its listing, investors will be keenly watching the stock's performance on its debut. The positive grey market sentiment suggests a favorable start, but market conditions will ultimately determine the stock's trajectory.
