MUMBAI — Milky Mist Dairy Food Limited, one of India’s leading value-added dairy product manufacturers, has filed its Red Herring Prospectus (RHP) with market regulator SEBI, fixing the public issue opening date for Monday, August 11, 2026. The IPO will remain open for subscription until August 13, while anchor bidding is set to take place on August 10.According to the RHP filing, the total public offering size has been recalibrated downward to ₹1,553 crore, compared to the ₹2,035 crore initially proposed in its Draft Red Herring Prospectus (DRHP).Issue Breakdown and Pre-IPO ImpactThe ₹482 crore reduction in total IPO size directly reflects the company's completion of a ₹482 crore pre-IPO funding round with Jongsong Investments Pte. Ltd., an indirect subsidiary of Temasek Holdings. The pre-IPO placement comprised a primary capital raise of ₹357 crore and a secondary transaction of ₹125 crore by promoters T. Sathishkumar and S. Anitha.The restructured public issue now comprises:Fresh Issue Component: Up to ₹1,428 crore in equity shares.Offer for Sale (OFS): Up to ₹125 crore by promoter shareholders T. Sathishkumar and S. Anitha.Employee Reservation: Up to ₹2 crore reserved for eligible employees at a discounted price.Following the pre-IPO transaction at an issue price of ₹139.76 per share, Milky Mist's valuation was established at over ₹9,300 crore to ₹10,700 crore, with Temasek holding a 5.16% stake in the entity.Utilization of Proceeds and Financial HighlightsNet proceeds from the fresh issue portion will be deployed primarily toward strengthening the company's balance sheet and expanding operational capacity. Milky Mist plans to allocate:Debt Repayment: ₹496.8 crore to prepay or repay outstanding borrowings.Facility Expansion: ₹469.2 crore to expand and modernize its primary manufacturing plant in Perundurai, Tamil Nadu.Cold-Chain Infrastructure: ₹155.3 crore for the nationwide deployment of visi coolers, ice cream freezers, and chocolate display coolers.For FY26, the company posted stellar growth, reporting a 176% year-on-year jump in net profit to ₹127 crore, driven by a 33.6% surge in operational revenue to ₹3,138.4 crore.JM Financial, Axis Capital, and IIFL Capital Services are acting as the book-running lead managers for the mainboard offering. The allotment of shares is expected to be finalized on August 14, with stock exchange listing targeted for August 18, 2026.Also Read :- Juniper Green Energy IPO Allotment Today: Check Latest GMP and Easy Steps to Verify StatusDisclaimer: This article is published for informational and educational purposes only and should not be construed as financial, investment, or trading advice. The views, opinions, estimates, and recommendations, if any, are those of the respective analysts, experts, or brokerage firms cited and do not necessarily reflect the views of Bumppy News. Readers are advised to conduct their own research and consult a SEBI-registered financial advisor or other qualified professional before making any investment or financial decisions. Investments in securities and financial markets are subject to market risks.
