The offer comprises a fresh issue of up to ₹1,785 crore and an offer for sale of up to ₹250 crore by promoter shareholders, T Sathishkumar and S Anitha.
Milky Mist Dairy Food Ltd, one of India’s fastest-growing packaged food companies, on Monday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to launch ₹2,035 crore initial public offering.
The offer comprises a fresh issue of up to ₹1,785 crore and an offer for sale of up to ₹250 crore by promoter shareholders, T Sathishkumar and S Anitha – holding 40.94 per cent and 51.45 per cent of the pre-offer paid-up equity share capital of the company respectively, as on the date of this DRHP, says the document.
Founded in Erode, Tamil Nadu, Milky Mist is one of the leading dairy brands in India, producing value-added dairy products like paneer, cheese, yogurt, curd, ice cream, butter and ghee. It does not sell milk, enabling higher margins and strong positioning akin to FMCG companies. The company directly connects with over 67,000 farmers, securing a steady supply of high-quality milk.
The net proceeds from the fresh issue of up to ₹1,785 crore will be utilised. Of this, ₹750 crore will be used for repayment/prepayment of certain outstanding borrowings; ₹414 crore for expansion and modernisation of the Perundurai manufacturing facility and ₹129 crore for deployment of visi coolers, ice cream freezers, and chocolate coolers. The balance will be used towards general corporate purposes (up to 25 per cent of gross proceeds as per SEBI regulations), the document said.
Read More: Get more News from Dairy Sector
Revenue from operations grew by 30 per cent to ₹2,349 crore in FY25 from ₹1,394 crore in FY23. The company’s new product launches contributed ₹511 crore to revenue in FY25 alone. The company operates one of the largest paneer production capacities in India at 150 metric tonnes per day, the document says.
Hatsun Agro, Heritage Foods, Parag Milk Foods and Dodla Dairy are some of the major listed dairy players. This will be the largest IPO in this space.
Launched by founder T Sathishkumar, who dropped out of school to help out with his father’s milk business, Milky Mist started paneer production in 1994.
Today, it has a fully automatic paneer processing plant in Erode. It has since then added a line up of over 20 value-added products, which it distributes with a fully-owned logistics chain.
Join Our “Dairy & Food Jobs Updates” WhatsApp group
Stay informed on all the latest news updates
All Agriculture Books Free Download
All Dairy Technology Books Free Download
All Agricultural Engineering Books Free download
All Horticulture Books Free Download
All Fisheries Science Books Free Download
For Daily Update follow us at:
Facebook Telegram Whatsapp Instagram YouTube
The contents are provided free for noncommercial purpose such as teaching, training, research, extension and self learning.
If you are facing any Problem than fill form Contact Us
If you want share any article related Agriculture with us than send at info@agrimoon.com with your contact detail.
