3 weeks ago
Milky Mist Dairy Launches Rs 1,553-Crore IPO August 11
A company like Milky Mist, which makes milk and dairy foods, wants to grow bigger.
To get the money it needs, it is going to let people buy small pieces of the company called shares.
This special first-time sale of shares is called an IPO.
Milky Mist's IPO will start on August 11 and end on August 13.
People can pay between 133 and 140 rupees for each share.
The company hopes to collect up to 1,553 crore rupees, which is a very large amount of money.
Most of that money will help the company build and grow, while some will go to two people who already owned part of the company.
Milky Mist wants to make more special products like high-protein and healthy dairy foods because that is what customers are asking for.
This is important because milk costs are going up, and selling fancy products helps dairy companies stay profitable.
Milky Mist Dairy Food's IPO opens for subscription on August 11 and closes on August 13, with anchor investor bidding on August 10.
The total offer is up to Rs1,553 crore, comprising a fresh issue of up to Rs1,428 crore and an offer for sale of up to Rs125 crore.
The price band is fixed at Rs133-Rs140 per equity share, with a minimum bid of 107 shares and multiples of 107 thereafter.
Selling shareholders include Sathishkumar T (shares up to Rs75 crore) and Anitha S (shares up to Rs50 crore), and eligible employees get a Rs13 per share discount.
A pre-IPO placement of 543,789 equity shares and 25 million compulsorily convertible preference shares at Rs139.76 raised Rs357 crore.
The IPO comes as the Indian dairy industry shifts toward value-added products amid rising milk procurement costs and margin pressure in basic commodities.
- Who
- Milky Mist Dairy Food, along with selling shareholders Sathishkumar T (up to Rs75 crore) and Anitha S (up to Rs50 crore)
- What
- Launching an initial public offering (IPO) of up to Rs1,553 crore on Indian stock markets
- Where
- India, at Hyderabad-based Milky Mist Dairy Food
- When
- IPO opens on August 11 and closes on August 13, with anchor investor bidding on August 10
- Why
- To fund expansion into value-added dairy products amid rising milk procurement costs and pressure on margins in basic dairy commodities
Key facts
- Company
- Milky Mist Dairy Food
- IPO Dates
- Opens August 11; closes August 13
- Anchor Investor Bidding
- August 10
- Price Band
- Rs133-Rs140 per equity share
- Offer Size
- Up to Rs1,553 crore (fresh issue up to Rs1,428 crore; offer for sale up to Rs125 crore)
- Minimum Bid
- 107 shares, in multiples of 107
- Employee Discount
- Rs13 per equity share
- Pre-IPO Placement
- Rs357 crore (543,789 equity shares and 25 million CCPS at Rs139.76)
Sources
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