Milky Mist Dairy Food Limited
Minimum investment
Bidding date
11 Aug - 13 Aug 2026
Price range
₹133 - ₹140
Minimum quantity
107
Minimum investment
₹14,231
Issue size
₹1,553 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Total Issue Size:
₹1,553 Crore
Fresh Issue: 92% (₹1,428 Cr)
OFS: 8% (₹125 Cr)
Fresh Issue – ₹1,428 Crore
Offer for Sale – ₹125 Crore
Before Issue: 76.92%
After Issue: 57.69%
Lock-in / Stabilization | Timeline |
|---|---|
Promoters' Contribution (Minimum 20% of Post-Issue Share Capital) | 18 Months from the Date of Allotment |
Remaining Pre-Issue Share Capital (Other than Promoters' Contribution & Exempt Shares) | 6 Months from the Date of Allotment |
Anchor Investors – 50% of Allotted Shares | 90 Days from the Date of Allotment |
Anchor Investors – Remaining 50% of Allotted Shares | 30 Days from the Date of Allotment |
Note: Retail IPO investors have no lock-in and can sell shares from the listing day.
Milky Mist Dairy Food Limited was incorporated in July 2014 and has emerged as one of India's fastest-growing packaged food companies specializing in premium value-added dairy products. The company offers a wide portfolio that includes cheese, paneer, butter, curd, ghee, yogurt, ice cream, UHT products, frozen foods, ready-to-eat (RTE), ready-to-cook (RTC) products, and chocolates under the flagship Milky Mist brand along with sub-brands such as SmartChef, Capella, Misty Lite, Briyas, and Asal.
The company follows a fully integrated farm-to-consumer business model, directly procuring milk from farmers and processing it at highly automated manufacturing facilities. Its operations are supported by an extensive cold-chain logistics network and a nationwide multi-channel distribution system, enabling efficient delivery of fresh dairy products across India.
Milky Mist focuses on innovation, premium product development, operational efficiency, and sustainable manufacturing. As of March 31, 2026, the company employed 1,317 permanent employees across manufacturing, milk procurement, quality assurance, sales, and marketing functions. Financially, the company has demonstrated strong growth. For FY2026, total income increased to Rs. 3,145.01 crore from Rs. 2,354.79 crore in FY2025, while Profit After Tax (PAT) surged to Rs. 127.01 crore, reflecting robust improvement in profitability and operational performance.
Strong Premium Dairy Brand: Milky Mist has established itself as one of India's fastest-growing premium packaged dairy brands with a strong presence in the value-added dairy segment and growing consumer recognition across the country.
Diversified Product Portfolio: The company offers a wide range of products, including cheese, paneer, butter, curd, ghee, yogurt, ice cream, frozen foods, ready-to-eat (RTE), ready-to-cook (RTC) products, and chocolates, reducing dependence on a single product category.
Integrated Farm-to-Consumer Model: Milky Mist directly procures milk from farmers and manages the complete value chain from sourcing to distribution, helping ensure product quality, operational efficiency, and supply reliability.
Advanced Manufacturing Infrastructure: The company operates highly automated manufacturing facilities supported by technology-driven processes, enabling consistent product quality and efficient large-scale production.
Strong Distribution Network: Its extensive cold-chain logistics infrastructure and multi-channel distribution network allow the company to efficiently deliver fresh dairy products across multiple markets in India.
Dependence on Milk Procurement: The company's operations rely on the continuous availability of quality raw milk. Any disruption in milk procurement or supply chain operations could impact production and business performance.
Fluctuating Raw Material Costs: Changes in milk prices and other input costs may affect operating margins if the company is unable to pass on higher costs to customers.
Intense Industry Competition: Milky Mist operates in the highly competitive dairy industry, where it competes with several established national, regional, and local brands.
High Borrowing Levels: Although part of the IPO proceeds will be used for debt repayment, the company had total borrowings of Rs. 1,671.85 crore as of FY2026, which may continue to impact its financial position.
Cold-Chain Dependency: The business depends on an efficient cold-chain logistics network for product storage and transportation. Any disruption could affect product quality and customer satisfaction.
3 Cr.
Mar'26
127.01 Cr.
Mar'26
435.22 Cr.
Mar'26
57 investors voted
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