Dairy products company Milky Mist made a strong debut on the stock exchanges on Monday, with its shares listing at a 17.86% premium over the IPO price. The company’s shares opened at Rs 165 on the National and Bombay stock exchanges, compared with the issue price of Rs 140. Milky Mist Dairy Food’s IPO was a Rs 1,553 crore issue, comprising a Rs 1,428 crore fresh issue and a Rs 125 crore offer for sale (OFS) by promoter shareholders. The company fixed the IPO price band at Rs 133–140 per share, with the issue open for subscription from August 11 to 13, 2026. Milky Mist’s IPO was subscribed 56.12X, with QIBs showing the strongest demand at 155.83X. NII and retail portions were subscribed 34.91X and 8.41X, respectively. The company has also raised aroundRs 482 crorein a pre IPO funding round from Jongsong Investments Pte Ltd, an indirect wholly owned subsidiary of Temasek Holdings, according to a public announcement. The company operates in the value-added dairy segment, with products across categories including dairy-based foods and beverages. Its growth strategy also includes expanding its manufacturing capacity, distribution network and product portfolio. Milky Mist reported a 33.6% YoY growth in revenue to Rs 3,138.36 crore in FY26 from Rs 2,349.50 crore in FY25, while its profit surged 175.7% to Rs 127.01 crore from Rs 46.07 crore. Milky Mist remains concentrated in its home market, with around 69.23% of FY26 revenue coming from South India. Around 94.51% of its raw milk procurement also came from Tamil Nadu, leaving the company exposed to regional concentration. The company is currently trading at Rs 181.5 (as of 10.16 AM) with a total market capitalization of Rs 13,972 crore. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
