Dairy major Milky Mist is all set to open its IPO for bidding today, August 11. The Tamil Nadu-based firm aims to raise Rs 1,553 crore via the offer. Of the total float, Milky Mist will raise Rs 1,553 crore through issuance of 10.20 crore fresh equity shares of Rs 2 each.
The remaining Rs 125 crore will be raised through the offer for sale (OFS) route as investors will offload 89 lakh equity shares.
Here are all the critical details you must know about the offer
Milky Mist IPO: Share Price and offer timeline
The company has set the share price band at Rs 133 to Rs 140 per share for the IPO. Eligible employees are entitled to a discount of Rs 13 per share.
The offer will be open for bidding for three days and close for subscription on Thursday, August 13.
Share allotment is expected to be finalised by August 14, while shareholders shall receive their due shares and refunds by August 17. The company is expected to list on NSE and BSE by August 18.
Milky Mist IPO: Lot Size
A retail investor can bid for a minimum of one lot, comprising 107 shares, equating into an investment of Rs 14,980, based on the upper end of the price band. While the maximum retail applicants can bid for is 13 lots
The minimum lot size for small high net worth individuals is 14, and the maximum is 66, and Big HNIs can bid for a minimum of 67 lots.
Milky Mist IPO: Grey Market Premium
As per the latest update, the company’s shares were trading at a premium of 14.64% in the unlisted markets, reflecting gains of Rs 20.50 per share. This translates into an estimated listing price of Rs 160.50, based on the upper end of the price band.
This indicates a lot could yield a profit of Rs 2,193. However, it is important to note that GMP is an unofficial indicator of the listing price and varies based on market conditions.
Milky Mist IPO: Lead managers
JM Financial, Axis Capital, and IIFL Capital are the investment bankers to the issue, while KFin Technologies is the registrar to the offer.
Milky Mist IPO: Expert Commentary
“Milky Mist Dairy Food Ltd, at an implied P/E of 84.9x on FY2026 earnings at the upper price band. Given its strong revenue growth, leadership in key value-added dairy categories and premium positioning, the company may command a valuation premium,” said Anand Rathi Research Team in a note.
It added, “However, the IPO valuation appears fully priced at the upper band and hence, we recommend a “Subscribe – Long Term” rating to the IPO.”