Milky Mist Dairy Food IPO opens tomorrow, GMP signals 20% listing gain. Check price band, lot size and key dates

The much-awaited Milky Mist Dairy Food IPO is set to open for subscription tomorrow, August 11, with the three-day bidding window closing on August 13. The Rs 1,553 crore public issue is already attracting attention in the grey market, where the Grey Market Premium (GMP) stands at around 20% over the upper price band of Rs 140, signalling strong potential listing gains if the trend holds.

Milky Mist Dairy Food’s Rs 1,553 crore IPO is a book-built issue comprising a fresh issue of 10.20 crore shares worth Rs 1,428 crore and an offer for sale (OFS) of 0.89 crore shares valued at Rs 125 crore. Under the OFS, promoter shareholders Sathishkumar T. and Anitha S. will sell shares worth Rs 75 crore and Rs 50 crore, respectively.

The fresh issue accounts for the bulk of the IPO proceeds, with the funds expected to be deployed towards the company’s stated objectives. Meanwhile, the OFS component will allow the selling promoter shareholders to partially exit their holdings.


The Milky Mist Dairy Food IPO will open for subscription on August 11, 2026, and close on August 13. The basis of allotment is expected to be finalised on August 14, while the company's shares are likely to debut on both the NSE and BSE on August 18, subject to the tentative schedule.

The IPO has set a price band of Rs 133 to Rs 140 per share, with a lot size of 107 shares. At the upper price band, retail investors will need a minimum investment of Rs 14,980 for one lot.

JM Financial Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is acting as the registrar.

Milky Mist Dairy Food IPO GMP today

The Milky Mist Dairy Food IPO continues to attract investor attention in the grey market ahead of its subscription opening. The latest Grey Market Premium (GMP) stands at Rs 26, or around 20%, over the upper issue price of Rs 140 per share.

Based on the current GMP, the estimated listing price for Milky Mist Dairy Food shares is around Rs 166 apiece, indicating a potential premium over the IPO's upper price band. However, GMP is an unofficial indicator and can fluctuate before the stock makes its market debut.

IPO objects of the issue

Milky Mist Dairy Food Ltd. plans to deploy the net proceeds from its IPO primarily towards strengthening its balance sheet and funding expansion. Of the total estimated Rs 1,121.41 crore, the company proposes to use Rs 496.86 crore to repay or prepay certain outstanding borrowings, while another Rs 469.24 crore will go towards capital expenditure for the expansion and modernisation of its Perundurai manufacturing facility.

The company also plans to invest Rs 155.31 crore in deploying visi coolers, ice cream freezers and chocolate coolers, aimed at strengthening its distribution and market presence. The remaining proceeds will be utilised for general corporate purposes, with the overall deployment reflecting a focus on deleveraging, expanding production capabilities and enhancing its market reach.

Milky Mist Dairy Food financial performance

Milky Mist Dairy Food reported a strong improvement in its financial performance in FY26. Total income rose 34% year-on-year to Rs 3,145.01 crore, compared with Rs 2,354.79 crore in FY25. The company's profitability also saw a sharp improvement. Profit after tax (PAT) jumped 176% to Rs 127.01 crore in FY26, from Rs 46.07 crore in the previous financial year.

About Milky Mist Dairy Food

Incorporated in July 2014, Milky Mist Dairy Food is a fast-growing Indian packaged food company focused on premium and value-added dairy products. Its portfolio spans cheese, paneer, butter, curd, ghee, yoghurt, ice cream, UHT products, frozen foods, ready-to-eat (RTE), ready-to-cook (RTC) foods and chocolates.

These products are sold under its flagship Milky Mist brand as well as sub-brands including SmartChef, Capella, Misty Lite, Briyas and Asal.

The company follows an integrated farm-to-consumer model, sourcing milk directly from farmers and processing it through automated manufacturing facilities. Its operations are supported by an in-house cold-chain logistics network and a multi-channel distribution system, enabling it to serve customers across India.

Milky Mist has also invested in technology-driven manufacturing, product innovation and sustainable production practices. The company has a workforce of 1,317 permanent employees across manufacturing, sales and marketing, quality control and milk collection operations.

With strong FY26 growth, planned debt reduction, capacity expansion and a positive grey-market signal, the Milky Mist Dairy Food IPO is likely to remain closely watched as investors assess its potential listing performance.

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