Milky Mist Dairy Food IPO
FMCG • ₹1553 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- Working capital or debt pressure highlighted in DRHP
- The company has contingent liabilities amounting to Rs 229.01 crore as of March 31, 2026. …
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹140
Lot Size
107 shares
Issue Size
₹1553 Cr
Open
11 Aug 2026
Close
13 Aug 2026
Subscription
56.0×
IPO Schedule
| Issue Open Date | 11 Aug 2026 |
| Issue Close Date | 13 Aug 2026 |
| Allotment Date | 14 Aug 2026 |
| Listing Date | 17 Aug 2026 |
About Milky Mist Dairy Food
Milky Mist Dairy Food Limited is a dairy and packaged food company focused on value-added dairy products. Its product portfolio includes paneer, cheese, curd, butter, ghee, yoghurt, ice cream, UHT long-shelf-life products, sweetened condensed milk and other packaged foods, including frozen, ready-to-eat and ready-to-cook products and chocolates. The company sells its products under brands including Milky Mist, SmartChef, Capella, Misty Lite, Briyas and Asal. It sources raw milk directly from farmers across Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra through automated milk collection units and chilling centres. As of March 31, 2026, it had 3,907 automated milk collection units and 29 chilling centres. The company operates one manufacturing facility in Perundurai, Erode District, Tamil Nadu, with an installed paneer capacity of 192 metric tonnes per day. Its products are sold through general trade, modern trade, HoReCa, online platforms, and exclusive parlours across 22 states and five Union Territories in India. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company — Rs 496.86 crore Financing the capital expenditure requirements in relation to the expansion and modernisation of the Perundurai manufacturing Facility — Rs 469.24 crore Deployment of visi coolers, ice cream freezers, and chocolate coolers — Rs 155.31 crore
Company Details
Founders / Promoters
Mr Sathishkumar T
Founded
1999
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Milky Mist Dairy Food — IPOFins Verdict
QuantitativeDriven by QIB demand at 155.8x and moderate disclosed risk (4/10), Milky Mist Dairy Food listed at a premium of 17.9% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company had an approximately 19% market share in the organised packaged paneer market in India in FY26. It also held approximately 12% of the organised cheese market in South India, 7% of the orga
- As of March 31, 2026, the company offered products across 22 categories and 640 SKUs, including paneer, cheese, curd, ghee, butter, yoghurt, ice cream, UHT products, chocolates and frozen, RTE and RTC
- The company claims to have automated manufacturing processes at its Perundurai facility, including robotic paneer production, automated cheese-making and UHT lines, and automated packing lines. As of
- As of March 31, 2026, the company procured milk directly from 74,654 farmers across 25 districts in Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra. Its procurement network included 3,907 automa
- The company claims to operate its own manufacturing and logistics infrastructure, including 63 milk tankers, 282 refrigerated trucks, and 34 ambient trucks as of March 31, 2026. Its products were sold
Score breakdown — what drove this verdict
Moderate risk from DRHP → score +0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹140
Listing Price
₹165
Listing Gain/Loss
+17.86%
Listing Date
17 Aug 2026
Price Since Listing
Returns are measured against the ₹140 issue price.
Listing
₹165
+17.9%
1 Week
₹196.66
+40.5%
Current
₹292.77
+109.1%
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FAQ
What is the price band of Milky Mist Dairy Food IPO?
The price band is ₹140 per share with a lot size of 107 shares. Minimum investment: ₹14,980.
What does Milky Mist Dairy Food do?
Milky Mist Dairy Food Limited is a dairy and packaged food company focused on value-added dairy products. Its product portfolio includes paneer, cheese, curd, butter, ghee, yoghurt, ice cream, UHT long-shelf-life products, sweetened condensed milk and other packaged foods, including frozen, ready-to-eat and ready-to-cook products and chocolates. The company sells its products under brands including Milky Mist, SmartChef, Capella, Misty Lite, Briyas and Asal. It sources raw milk directly from farmers across Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra through automated milk collection units and chilling centres. As of March 31, 2026, it had 3,907 automated milk collection units and 29 chilling centres. The company operates one manufacturing facility in Perundurai, Erode District, Tamil Nadu, with an installed paneer capacity of 192 metric tonnes per day. Its products are sold through general trade, modern trade, HoReCa, online platforms, and exclusive parlours across 22 states and five Union Territories in India. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company — Rs 496.86 crore Financing the capital expenditure requirements in relation to the expansion and modernisation of the Perundurai manufacturing Facility — Rs 469.24 crore Deployment of visi coolers, ice cream freezers, and chocolate coolers — Rs 155.31 crore
Should I apply for Milky Mist Dairy Food IPO?
Milky Mist Dairy Food listed at ₹165 (+17.9% premium to the ₹140 issue price) after 56.0x subscription. IPOFins Score 8/10: Driven by QIB demand at 155.8x and moderate disclosed risk (4/10), Milky Mist Dairy Food listed at a premium of 17.9% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Milky Mist Dairy Food?
Milky Mist Dairy Food was founded by Mr Sathishkumar T in 1999.