Milky Mist IPO subscribed 42.29 times so far on closing day, QIBs lead demand
The ₹1,553-crore IPO has a price band of ₹133-140 per share. The issue comprised a fresh issue of shares worth up to ₹1,428 crore and an offer-for-sale of up to ₹125 crore.
Milky Mist Dairy Food's IPO achieved an impressive subscription rate of 56.12 times on its closing day, with qualified institutional buyers leading the demand at 155.83 times. Non-institutional investors subscribed at a rate of 34.91 times, while retail investors and employees contributed 8.40 and 12.41 times respectively. The ₹1,553-crore IPO, priced between ₹133-140 per share, consisted of a fresh issue of up to ₹1,428 crore and an offer-for-sale of up to ₹125 crore.
The company raised ₹465.30 crore from anchor investors, making it the largest IPO by an Indian dairy company. Expected to command a market valuation of approximately ₹10,778 crore at the upper end of the price band, the IPO funds will be utilized for debt repayment, facility expansion, cold-chain infrastructure improvements, and new product development.
The shares are slated for listing on the BSE and NSE on August 18, led by JM Financial, Axis Capital, IIFL Capital Services, and registered by KFin Technologies.
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