Milky Mist Dairy Food shares made a blockbuster stock market debut. The dairy company’s IPO listing delivered nearly 30 percent gains to investors on the very first day. A buying frenzy pushed the stock to its upper circuit soon after listing.
Blockbuster Listing on BSE
The stock listed on the BSE at Rs 165, an 18 percent premium over the issue price. Investors rushed to buy shares after the strong debut. The stock jumped 10 percent and hit the upper circuit. Shares reached Rs 181.45 after the circuit was locked.
IPO Price Band and Retail Bidding
The company fixed a price band of Rs 140 per share for the IPO. Retail investors could bid from August 11 to August 13. The lot size was set at 107 shares. Retail investors needed at least Rs 14,980 to apply. Employees received a discount of Rs 13 per share.
Massive Subscription Across Categories
The three-day offering was subscribed 59 times overall. The retail category saw 8.86 times subscription. QIBs bid 164.03 times while NIIs bid 36.75 times. The IPO opened for anchor investors on August 10. Anchors pumped in Rs 465.30 crore.
Strong Financial Growth
Milky Mist is an FMCG company with a strong presence in South India. Its financial health has improved steadily over time. In FY2024, revenue stood at Rs 1,826.86 crore. Profit was Rs 19.44 crore that year. Net profit jumped to Rs 127.01 crore in FY2026. Revenue crossed Rs 3,145 crore in the last fiscal year.
How the IPO Funds Will Be Used
The company will use Rs 496.86 crore to repay existing debt. Another Rs 469.24 crore will go toward developing the Perundurai manufacturing center. Rs 155.31 crore is earmarked for visi coolers, ice cream freezers and chocolate coolers. The remaining funds will be used for general corporate purposes.
