Milky Mist Dairy, a bold Indian dairy products company, has officially filed papers with SEBI for an initial public offering (IPO) worth Rs 2,035 crore. This move marks a big leap for the Tamil Nadu-based brand known for making cheese, yoghurt, paneer, and more — but never milk.
The IPO includes two parts: a fresh issue of Rs 1,785 crore and an offer for sale (OFS) of Rs 250 crore by the company’s promoters. This filing is a strong step forward as Milky Mist gears up for its next growth phase.
Where Will the Money Go?
Milky Mist Dairy has a clear plan for the funds.
Here’s a quick look:
- Rs 750 crore will be used to pay off existing debt.
- Rs 414 crore is set aside to expand and modernise its factory in Perundurai. This includes setting up new units for whey protein, yoghurt, and cream cheese.
- Rs 129 crore will help the company distribute visi coolers, ice cream freezers, and chocolate coolers across India.
- The rest will be used for general business purposes.
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What Makes Milky Mist Different?
Milky Mist Dairy is not like most traditional dairy brands in India. While others focus on liquid milk, Milky Mist does not sell milk at all. Instead, it focuses on value-added dairy products. This bold decision has helped it enjoy higher profit margins and build a strong image more like a FMCG brand than a milk seller.
The company also uses technology and automation in its factories. It runs its own in-house logistics and buys milk directly from over 67,000 farmers. This keeps the supply chain clean and efficient.
A Quick Look at Performance
In FY25, Milky Mist Dairy reported Rs 2,349 crore in revenue from operations. Its EBITDA stood at Rs 310 crore, showing strong growth potential as it steps into the public market.
Who’s Managing the IPO?
The IPO is being managed by top financial firms like JM Financial, Axis Capital, and IIFL Capital Services. The official registrar for the offering is KFin Technologies.
Milky Mist Dairy is not just filing for an IPO — it’s making a statement. With a bold business model, solid financials, and big expansion plans, this IPO could be one of the most exciting moves in the Indian dairy sector in years.
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