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Milky Mist Dairy Food IPO
Price Band
₹133.0–140.0
Issue Size
₹1553.0 Cr
Lot Size
107 shares
Min Investment
₹14,980
GMP
+₹19.7 (14.07%)
Issue Price
₹140.0
Subject to Sauda
₹1600
Paid only if allotted
Milky Mist Dairy Food IPO AI Summary
- Milky Mist Dairy Food IPO is listed on BSE, NSE in the Other Food Products sector.
- Price band: ₹133.0–₹140.0 per share, lot size 107 shares (min. investment ₹14,980).
- Subscription window: 11 Aug–13 Aug 2026, listing on 18 Aug 2026.
- Current GMP is +₹19.7 (14.07%), an estimated listing price of ₹160 — unofficial and can change daily.
Milky Mist Dairy Food Limited is set to launch its IPO with strong demand observed across various investor categories. The company's growth in revenue and profit over the past years, along with its established market presence, positions it as a notable player in the dairy sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Milky Mist Dairy Food IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 13 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
59.08x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
164.03x
|
164x 🔥 |
| NII (HNI) |
36.75x
|
37x ✓ |
| ↳ bNII (>₹10L) |
39.09x
|
39x ✓ |
| ↳ sNII (<₹10L) |
32.08x
|
32x ✓ |
| Retail (RII) |
8.86x
|
8.86x |
| Employee |
13.15x
|
13x ✓ |
| Total | 59.08x | 59.08x |
Auto-updated every 5 min · As of 13th Aug 2026 18:56
Milky Mist Dairy Food IPO Grey Market Premium (GMP) Today
GMP
+₹19.7
GMP %
+14.07%
Est. Listing
₹159.7
Updated: 18 Aug 2026 09:15
GMP Trend (Last 13 Days)
About the Company
Incorporated in 2014, Milky Mist Dairy Food Limited is an Indian dairy company engaged in the production and distribution of a wide range of dairy and frozen food products. The company initially introduced branded packaged paneer in India and subsequently expanded its portfolio to include curd, ghee, butter, cheese, yogurt, ice cream, UHT long shelf life products, chocolates, and sweetened condensed milk. Operations & InfrastructureMilky Mist Dairy Food Limited operates an integrated farm-to-retail supply chain model. Raw milk is sourced directly from 67,615 farmers across 22 districts in Tamil Nadu, Andhra Pradesh, and Karnataka, all located within a 400-kilometre radius of its primary manufacturing facility in Perundurai, Erode District, Tamil Nadu. This facility focuses on value-added dairy production. A second facility in Bengaluru, Karnataka, is dedicated to the production of frozen foods, including ready-to-eat (RTE) and ready-to-cook (RTC) products. As of March 31, 2025, the company’s logistics infrastructure included 44 milk vans for sourcing, 252 reefer trucks for temperature-controlled transportation of perishable goods, and 34 ambient trucks for non-perishable items. Sales & DistributionThe company’s distribution network spans multiple sales channels, including general trade, modern trade, HoReCa (hotels, restaurants, and cafés), e-commerce, quick commerce platforms, and exclusive Milky Mist parlours. Products are sold in 22 states and 5 union territories through 3,062 distributors and 44 clearing and forwarding (C&F) depots in 44 cities across 13 states. This network reaches over 350,000 retail touchpoints across India. Market PresenceAccording to the 1Lattice Report, in Fiscal 2025, the company held approximately 17% market share by value in the organised packaged paneer segment in India. In the same fiscal year, it had approximately 12% market share in the organised packaged cheese market in South India and approximately 5% market share nationally among private players in the same category. ExportsBetween April 1, 2022, and March 31, 2025, the company exported dairy products to more than 15 countries, including Singapore, the United States, Australia, and various countries in the Middle East. EmployeesAs of March 31, 2025, Milky Mist Dairy Food Limited employed 1,524 permanent employees.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,676.46 | 2,150.59 | 1,606.26 |
| Total Income | 3,145.01 | 2,354.79 | 1,826.86 |
| Profit After Tax | 127.01 | 46.07 | 19.44 |
| EBITDA | 435.22 | 310.35 | 222.33 |
| NET Worth | 378.00 | 242.77 | 197.05 |
| Reserves and Surplus | 333.55 | 199.23 | 278.04 |
| Total Borrowing | 1,671.85 | 1,376.38 | 1,036.72 |
Key Ratios
EPS
₹1.90
NAV
₹3.78
ROE
15.11%
ROCE
9.54%
RoNW
18.98%
P/B Value
37.04
P/E Ratio
73.68
Market Cap
₹10777.81 Cr
PAT Margin
1.96%
Debt/Equity
4.20
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Tata Consumer Products | 220.02 | 7.08% | 70.08 | 15.59 | 15.58 |
| Parag Milk Foods | 93.44 | 10.73% | 21.28 | 11.06 | 10.57 |
| Nestle India | 26.74 | 67.85% | 79.76 | 18.15 | 18.15 |
| Hatsun Agro Product | 87.3 | 18.32% | 58.2 | 15.99 | 15.99 |
| Dodla Dairy | 277.5 | 15.95% | 51.98 | 44.26 | 44.26 |
| Britannia Industries | 212.01 | 49.61% | 51.98 | 105.18 | 105.18 |
| Bikaji Foods International | 64.03 | 16.07% | 62.33 | 10.31 | 10.3 |
| Milky Mist Dairy Food Ltd. This IPO | 5.87 | 33.6% | — | 1.98 | 1.97 |
Promoters
Sathishkumar T, Anitha S
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by Company 496.86 2 Financing the capital expenditure requirements in relation to the expansion and modernisation of Perundurai Manufacturing Facility 469.24 3 Deployment of visi coolers, ice cream freezers and chocolate coolers 155.31 4 General corporate purposes Total 1,121.41
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,826.86 Cr in the period ending 31 Mar 2024, rising to ₹2,354.79 Cr by 31 Mar 2025, and further increasing to ₹3,145.01 Cr by 31 Mar 2026. This indicates a consistent upward trend in revenue over the three periods.
Profit Trend
Profit After Tax was ₹19.44 Cr for the period ending 31 Mar 2024, increasing to ₹46.07 Cr by 31 Mar 2025, and further rising to ₹127.01 Cr by 31 Mar 2026. This shows a significant growth in profitability over the observed periods.
Valuation
Priced at roughly 73.68 trailing earnings, versus peers trading at a P/E range of 21.28 to 79.76.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of demand for an IPO before its listing. A positive GMP suggests that the IPO is likely to list at a premium to its issue price, while a negative GMP indicates the opposite. Investors often look at the GMP to gauge market sentiment towards the IPO.
Subscription Demand
As of 13th August 2026, the IPO has seen strong demand across various categories. The total subscription was 59.08 times, with the Qualified Institutional Buyers (QIB) segment subscribed 164.03 times, Non-Institutional Investors (NII) at 36.75 times, and Retail Investors (RII) at 8.86 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and market conditions. It's important to consider the company's growth potential and market position.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid IPOs like this, as they can be subject to significant price fluctuations and uncertainties in the early trading days.
IPO Timeline, Explained
The IPO opens for subscription on 11th August 2026 and closes on 13th August 2026. Allotment of shares will be finalized by 14th August 2026, with the listing expected on 18th August 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors including market conditions, investor sentiment, and overall demand for the IPO. While some IPOs may see significant gains on their first day of trading, others may not perform as expected, leading to potential losses.
This evaluation is generated from Milky Mist Dairy Food's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Milky Mist Dairy Food IPO GMP today?
Milky Mist Dairy Food IPO GMP today is +₹19.7 (14.07%), indicating an estimated listing price of ₹160. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Milky Mist Dairy Food IPO?
The price band of Milky Mist Dairy Food IPO is ₹133.0–₹140.0 per share.
When does Milky Mist Dairy Food IPO open and close?
Milky Mist Dairy Food IPO opens on 11 August 2026 and closes on 13 August 2026.
When does Milky Mist Dairy Food IPO list on the stock exchange?
Milky Mist Dairy Food IPO listed on 18 August 2026 at ₹159.7.
What is the lot size for Milky Mist Dairy Food IPO?
The lot size for Milky Mist Dairy Food IPO is 107 shares, requiring a minimum investment of ₹14,980.
What is the price band for the Milky Mist Dairy Food IPO?
The price band for the IPO is ₹133.0 to ₹140.0.
What is the minimum investment required?
The minimum investment required is ₹14,980.
What is the lot size for this IPO?
The lot size for the IPO is 107 shares.
When is the listing date for the IPO?
The listing date for the IPO is 18th August 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the stock might list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Aug 2026
Close
13 Aug 2026
Allotment
14 Aug 2026
Listing
18 Aug 2026
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