The proposed offering comprises a fresh issue of shares worth up to ₹1,785 crore and an offer for sale (OFS) of shares worth up to ₹250 crore by promoter shareholders Sathishkumar T and Anitha S.
Proceeds from the fresh issue to the tune of ₹750 crore will be used for payment of debt, ₹
414 crore for the expansion and modernisation of the Perundurai manufacturing facility, which includes setting up whey protein concentrate, yogurt, and cream cheese plants.
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Further, ₹129 crore will be invested in deploying visi coolers, ice cream freezers, and chocolate coolers, and the remaining funds will be allocated towards general corporate purposes.
Headquartered in Erode, Tamil Nadu, Milky Mist is a leading dairy brand focused exclusively on premium value-added dairy products (VADPs) such as paneer, cheese, yoghurt, curd, ice cream, butter, and ghee. By avoiding liquid milk sales, the company achieves higher margins and an FMCG-like positioning.
With fully automated, tech-driven manufacturing facilities and an in-house logistics network of end-to-end distribution and control, Milky Mist directly connects with over 67,000 farmers, securing a steady supply of high-quality milk.
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On the financial front, the company’s revenue from operations stood at ₹2,349 crore in FY25 and EBITDA or operating profit at ₹310 crore in FY25. JM Financial, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.
