Milky Mist Dairy Food Ltd has announced a ₹1,130 crore investment to set up a large-scale milk processing and dairy products manufacturing facility in Maharashtra, marking a major expansion of its national footprint.
The company has signed a memorandum of understanding (MoU) with the Maharashtra government for the project. The agreement was formalized on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, in the presence of Maharashtra Chief Minister Devendra Fadnavis.
Under the MoU, Milky Mist will establish a milk processing plant with an initial capacity of 10 lakh litres per day, which can be expanded to 25 lakh litres per day in phases. The facility will come up on 48.15 acres of land allotted by the Maharashtra Industrial Development Corporation (MIDC).
“The total project investment is estimated at ₹1,130 crore and is expected to generate direct employment for around 800 people,” the company said in a statement.
The Maharashtra project comes at a time when Milky Mist is preparing for its capital market debut. The dairy major has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise approximately ₹2,000 crore through an initial public offering (IPO).
Milky Mist currently operates a fully automated dairy processing facility in Perundurai, Erode district of Tamil Nadu, and is known for its value-added dairy portfolio spanning paneer, cheese, curd and other products. The proposed Maharashtra plant is expected to strengthen the company’s sourcing, processing and distribution capabilities across western and central India.