Milky Mist Dairy Food came to market through an IPO that opened on 11 August 2026 and closed on 13 August 2026, and the shares listed on 18 August 2026 on BSE, NSE. The price band was ₹133 to ₹140 per share and one lot was 107 shares, so the minimum application was ₹14,980. The issue size was ₹1553 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹165, a gain of 17.9% against the issue price of ₹140. Kfin Technologies Limited was the registrar to the issue, and JM Financial Ltd, Axis Capital Ltd, IIFL Capital Services Ltd were the lead managers.
As of 13 August 2026.
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Overall the issue was subscribed 59.07 times.
Incorporated in the year 2014, Milky Mist Dairy Food Limited is an Indian company producing and selling a wide range of dairy and frozen food items. The company pioneered branded packaged paneer in India and, over time, added curd, ghee, butter, cheese, yogurt, ice cream, UHT long shelf life products, chocolates, and sweetened condensed milk to its portfolio. Operations & Infrastructure:
It follows an integrated farm-to-retail supply chain model wherein raw milk is directly sourced from 67,615 farmers across 22 districts in Tamil Nadu, Andhra Pradesh, and Karnataka, all within a 400-kilometre radius of its principal manufacturing facility at Perundurai, Erode District, Tamil Nadu. In this facility, the company focuses on value-added dairy production. The second facility is at Bengaluru, Karnataka, where frozen foods, especially ready-to-eat and ready-to-cook products, are manufactured.
The logistics infrastructure of the company comprised 44 milk vans for sourcing, 252 reefer trucks for temperature-controlled transportation of perishable goods, and 34 ambient trucks for non-perishable items as of March 31, 2025. Sales & Distribution:The company's distribution network encompasses a range of sales channels: 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 depots in 44 cities across 13 states. This network covers more than 350,000 retail touchpoints across India. Market Presence According 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. Exports From April 1, 2022, to March 31, 2025, the company exported its products to more than 15 countries around the world, including Singapore, the United States, and Australia, besides several countries in the Middle East.
Employees As of March 31, 2025, Milky Mist Dairy Food Limited had 1,524 permanent employees on its rolls.
As described in the offer document.
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Milky Mist Dairy Food Limited finalised its anchor investor allocation on August 10, 2026, raising ₹465.30 crore from 19 institutional investors at an anchor price of ₹140 per share.
The anchor book comprises 3,32,35,713 equity shares, with domestic mutual funds receiving 46.27% of the allocation through 9 fund houses across 13 schemes, including Nippon India Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Union Mutual Fund, and TRUSTMF. Aditya Birla Sun Life Insurance Company Limited received 2.15% as the sole life insurance participant.
The remaining allocation went to a group of institutional and international investors, with Zulia Investments Pte. Ltd. receiving the single largest allocation at 34.39%, followed by Public Sector Pension Investment Board and India Acorn Fund Ltd at 5.37% each, and International Finance Corporation at 4.30%.
T. Sathish Kumar, Anitha S. Promoter holding 93% before the issue and 79.52% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Milky Mist Dairy Food IPO was a ₹1,553 crore book-built issue, comprising a fresh issue of ₹1,428 crore and an offer for sale of ₹125 crore. It was priced at ₹133–₹140 per share with a lot size of 107 shares (₹14,980). The IPO was open from August 11 to August 13, 2026 and was subscribed 59.07x. Shares listed on BSE and NSE on August 18, 2026 at ₹165, a 17.9% premium to the issue price of ₹140.
Kfin Technologies Limited is the registrar. JM Financial Ltd and 2 other book running lead managers manage the issue.
The price band of Milky Mist Dairy Food IPO is ₹133 to ₹140 per share.
The lot size of Milky Mist Dairy Food IPO is 107 shares.
The minimum investment for Milky Mist Dairy Food IPO is approximately ₹14,980 based on the upper price band.
The allotment date of Milky Mist Dairy Food IPO is Aug 14, 2026.
No GMP quote could be verified as recorded before Milky Mist Dairy Food IPO listed. A grey-market observation of ₹18 per share was recorded on 18 Aug 2026, 6:15 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹165. GMP is unofficial and does not forecast or guarantee the actual listing price.
Milky Mist Dairy Food IPO listed on Aug 18, 2026. It was issued at ₹165.0(NSE) and is currently around ₹305.00 as on 30-Oct-2026 3:30 PM, which is approximately 117.9% versus issue price. The 52-week high is ₹342.40.
You can check Milky Mist Dairy Food IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Milky Mist Dairy Food IPO allotment status on Rupix for quick and easy access.
₹133 to ₹140 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 107 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,980.
₹14,980, for one lot of 107 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 11 August 2026 and closed on 13 August 2026.
The basis of allotment was published on 14 August 2026 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 18 August 2026 on BSE, NSE, opening at ₹165.
The issue size was ₹1553 crore. The fresh issue was 10,20,14,623 shares (aggregating up to ₹1428 crore). The offer for sale was 89,28,570 shares (aggregating up to ₹125 crore).
It listed at ₹165 against an issue price of ₹140, a gain of 17.9 percent on listing day.