Milky Mist Dairy Foods Ltd is set to launch its ₹1,553 crore initial public offering (IPO) on August 11, 2026, as the dairy company looks to strengthen manufacturing capacity and expand its presence in India’s growing value-added dairy market.
The public issue will remain open until August 13, while bidding for anchor investors is scheduled for August 10, according to the company’s Red Herring Prospectus. The basis of allotment is expected to be finalised on August 14, with the shares proposed to list on the BSE and NSE on August 18.
Milky Mist had initially proposed raising ₹2,035 crore in its draft offer documents. At the announced price band, the company is expected to command a post-issue valuation of approximately ₹10,310 crore to ₹10,778 crore.
The IPO follows a ₹482 crore pre-IPO funding round completed in May 2026 involving Jongsong Investments Pte Ltd, an indirect wholly owned subsidiary of Temasek Holdings.
A significant part of the fresh issue proceeds is planned for expansion and modernisation of Milky Mist’s manufacturing facility at Perundurai, Tamil Nadu, alongside repayment of borrowings. The expansion includes dedicated manufacturing facilities for whey protein concentrate, yogurt and cream cheese, reflecting the company’s focus on higher-value dairy categories.
Milky Mist also plans to strengthen its cold-chain distribution infrastructure through the deployment of visi coolers, ice cream freezers and chocolate coolers across its sales network. Part of the proceeds will be used for general corporate purposes.
Founded in Erode, Tamil Nadu, Milky Mist has built its business around value-added dairy products rather than liquid milk. Its portfolio includes paneer, cheese, curd, yogurt, butter, ghee, ice cream and other processed dairy products.
The company’s focus on value-added products allows it to concentrate on categories offering greater opportunities for differentiation and higher margins. The proposed listing would add Milky Mist to India’s group of listed dairy companies alongside Parag Milk Foods, Hatsun Agro Product and Dodla Dairy, while providing fresh capital to support its next phase of manufacturing and distribution expansion.