Milky Mist opens D-St diary with 18% creamy surge
Milky Mist Dairy Food's shares experienced a significant 18% increase in value following their IPO debut on Tuesday. The company's shares opened at Rs 165 each on both the NSE and BSE, trading well above the IPO price of Rs 140 per share. The Rs 1,553-crore IPO comprised a fresh issue of 10.20 crore shares and an offer for sale of 89 lakh shares.
The IPO received a massive response from investors, with overall subscription exceeding 56 times. Retail investors subscribed at an 8.41 times rate, while Qualified Institutional Buyers (QIBs) showed particularly strong interest at 155.83 times. Non-institutional investors (NIIs) were subscribed at 34.91 times. In anticipation of the IPO, the company raised Rs 465.29 crore from anchor investors.
The issue had a price band of Rs 133-140 per share and a lot size of 107 shares. The primary use of the IPO proceeds is to strengthen the company's balance sheet and fund expansion, with plans to repay outstanding borrowings, invest in modernization, and enhance distribution capabilities.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
