Milky Mist Dairy Food Ltd, a Tamil Nadu–based packaged dairy company, has received SEBI approval to raise Rs 2,035 crore through an initial public offering (IPO). The offering will include a fresh issue of Rs 1,785 crore and an offer for sale (OFS) of Rs 250 crore by promoters T Sathishkumar and Anitha S.
The company plans to use the proceeds to expand its premium dairy business, modernise production facilities, and reduce debt. Around Rs 414.7 crore will be invested in upgrading the Perundurai manufacturing plant, including new units for whey protein concentrate, yogurt, and cream cheese. Rs 750 crore is earmarked for repayment of borrowings, and Rs 129.4 crore will go toward visi coolers, freezers, and chocolate coolers. The remaining funds will support general corporate purposes.
Founded in Erode, Milky Mist has carved a niche in value-added dairy products like paneer, cheese, yogurt, curd, butter, ghee, and ice cream, avoiding liquid milk to maintain FMCG-style margins.
The IPO marks the company’s next growth phase, aiming to strengthen its presence in the premium dairy segment while offering investors a chance to participate in one of Tamil Nadu’s fastest-growing dairy brands.
