Milky Mist IPO GMP Signals Strong Listing Gain Ahead Of August 11 Opening: Check All Key Details

Investors looking to subscribe to Milky Mist Dairy Food’s initial public offering (IPO) could see a strong listing gain, with the grey market premium (GMP) indicating nearly 18 per cent gains ahead of its subscription on August 11. The Rs 1,553 crore IPO will remain open for subscription until August 13. The issue comprises a fresh issue of 102.01 million shares worth Rs 1,428 crore and an offer for sale (OFS) of 8.93 million shares aggregating to Rs 125 crore.

The company has set the price band at Rs 133-140 per share. Retail investors can bid for a minimum of 107 shares, which means they will need to invest Rs 14,980 at the upper end of the price band.

The basis of allotment is expected to be finalised on August 14, followed by the refund and credit of shares on August 17. The shares are scheduled to debut on August 18.

JM Financial, Axis Capital and IIFL Capital Services are the bankers managing the issue, while Kfin Technologies is the registrar.

Milky Mist Dairy Food IPO GMP Today

The GMP stood at Rs 25, as at 4:00 PM on August 10, 2026, indicating an estimated listing price of Rs 165 against the upper price band of Rs 140. This translates into a potential listing gain of 17.86 per cent.

However, GMPs are unofficial and can change before listing. Investors should not consider the GMP as a guarantee of the stock’s listing price or future performance.

Milky Mist IPO Objectives

Milky Mist plans to use Rs 496.86 crore from the net proceeds to repay or prepay some of its outstanding borrowings. It plans to spend another Rs 469.24 crore on expanding and modernising its Perundurai manufacturing facility. The company has allocated Rs 155.31 crore to deploy visi coolers, ice cream freezers and chocolate coolers, and the remaining funds have been allocated for general corporate purposes.

Milky Mist’s Financial Performance

Milky Mist’s total income stood at Rs 3,145.01 crore in FY26, up 33.55 per cent from Rs 2,354.79 crore in FY25. Its profit after tax (PAT) stood at Rs 127.01 crore, up 175.76 per cent from Rs 46.07 crore in the previous financial year. The company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs 435.22 crore in FY26 as against Rs 310.35 crore in FY25, while the Ebitda margin expanded to 13.87 per cent from 13.21 per cent.

The company’s net debt stood at Rs 1,671.85 crore as on March 31, 2026, up from Rs 1,376.38 crore a year earlier. The debt-to-equity (D-E) ratio, however, improved to 3.61 from 4.20 during the period.

About Milky Mist Dairy Food

Incorporated in July 2014, Milky Mist Dairy Food manufactures and sells value-added dairy and packaged food products under the Milky Mist brand and other sub-brands. Its product portfolio includes cheese, paneer, butter, curd, ghee, yoghurt, ice cream, UHT products, frozen foods, ready-to-eat and ready-to-cook products and chocolates.

According to the red herring prospectus (RHP), the company follows an integrated farm-to-consumer model, sourcing milk directly from farmers and processing it through its manufacturing facilities. It also operates its own cold-chain logistics network and a multi-channel distribution system.