Milky Mist Dairy, a dairy company from Tamil Nadu, is planning to raise around ₹2,035 crore through an IPO. The company has already filed its draft papers with SEBI for this IPO. This marks the biggest IPO in the dairy sector in India.
Out of the total IPO amount, ₹1,785 crore will be a fresh issue, and ₹250 crore will be an Offer for Sale (OFS) by the promoters. They might also raise up to ₹357 crore before the IPO through a pre-IPO placement. If they do this, then the fresh issue amount will become smaller. The IPO is being managed by JM Financial, Axis Capital, and IIFL Capital Services.
Utilisation of Funds:
Milky Mist will use the money for different purposes. About ₹750 crore will be used to pay off its debts. ₹414 crore will be spent on expanding and modernising its big plant at Perundurai. ₹129 crore will be used to buy more coolers and freezers so that their products stay fresh while reaching shops across India. The rest of the money will be used for general company work and day-to-day expenses.
Strong Market Presence:
Milky Mist is different from many other dairy companies because it does not sell liquid milk. Instead, it makes premium value-added products like paneer, cheese, yogurt, ghee, butter, and ice cream. The company works with over 67,000 farmers to get fresh milk and sells its products through 3.5 lakh retail shops in 22 states. They even export to more than 15 countries.
Financial Performance:
In the financial year 2025, Milky Mist earned ₹2,349 crore in revenue, which is 29% more than last year. The net profit was ₹46 crore, which doubled compared to last year. But the company still has a total debt of ₹1,464 crore, which they want to reduce using the IPO money.
Competitive Landscape:
Milky Mist faces strong competition in India like Amul, Mother Dairy, Parag Milk Foods, Hatsun Agro, and Nestlé India. Amul is still the biggest and most trusted brand in India’s dairy market. But Milky Mist is trying to grow by focusing more on health-based products like whey protein concentrate and yogurt, which are becoming popular among health-conscious people.
Many experts say this IPO will help Milky Mist to expand more, reach more people, and compete better with bigger brands. Recently, the company said it wants to double its capacity for yogurt and cream cheese to match the rising demand. With this move, Milky Mist wants to become a strong name not just in South India but all over India and also in the global market.
