- Price Band fixed at ₹133 to ₹140 per equity share of face value of ₹2 each of Milky Mist Dairy Food Limited (“Equity Shares”);
- The Floor Price is 66.50 times the face value of Equity Shares and the Cap Price is 70.00 times the face value of the Equity Shares;
- Bid /Offer opened on Tuesday, 11 August 2026 and will close on Thursday, 13 August 2026
- Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter;
- A discount of ₹13 per Equity share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
- Red Herring Prospectus dated August 4, 2026 link: https://www.milkymist.com/ipo
- Price band advertisement link: https://epaper.financialexpress.com/4184461/Mumbai/August-06-2026#page/28/1
Chennai, 12 August 2026: Milky Mist Dairy Food Limited (the “Company”) opened the Bid / Offer in relation to its initial public offering of the Equity Shares on Tuesday, 11 August 2026. The Anchor Investor Bidding Date was one Working Day prior to Bid/Offer Opening Date, on Monday, 10 August 2026. The Bid/Offer will close on Thursday, 13 August 2026.
Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.
The Price Band has been fixed at ₹133 to ₹140 per Equity Share.
The total offer size is Up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹15,530.00 million.
The Offer comprises of a Fresh Issue of up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹ 14,280.00 million and an Offer for sale of up to [●] Equity Shares aggregating up to ₹1,250.00 million. The Offer for Sale comprises up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹750.00 million by Sathishkumar T and up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹500.00 million by Anitha S.
A discount of ₹ 13 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The company, in consultation with the Book Running Lead Managers, undertook a pre-IPO placement of (I) 543,789 Equity Shares of face value of ₹2 each at a price of ₹139.76 per Equity Share (including a premium of ₹137.76 per Equity Share); and (II) 25,000,000 compulsorily convertible preference shares (CCPS) of face value of ₹2 each at a price of ₹139.76 per CCPS, aggregating to ₹ 3,570.00 million, as permitted under the applicable law.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited. For the purposes of the Offer, the Designated Stock Exchange shall be National Stock Exchange of India Limited.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, “QIB Portion”), provided that our Company in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”). 40% of the Anchor Investor Portion shall be reserved as: (i) 33.33% for domestic Mutual Funds; and (ii) 6.67% for life insurance companies and Pension Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations.
In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, (a) not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million and up to ₹ 1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 1.00 million) and (b) not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (‘RIBs’) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (defined hereinafter), which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be, to the extent of their respective Bid Amounts.
JM Financial Limited, Axis Capital Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are the Book Running Lead Manager’s to the issue.
Disclaimer:
Milky Mist Dairy Food Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus (“RHP”) with the Registrar of Companies, Tamil Nadu at Coimbatore. The RHP is available on the website of the Company at www.milkymist.com, the website of SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at www.jmfl.com, Axis Capital Limited at www.axiscapital.co.in, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcap.com, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which has been filed with the Registrar of Companies, Tamil Nadu at Coimbatore including the section titled “Risk Factors” beginning on page 23 of the RHP. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.
The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws in the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. There will be no public offering in the United States.
