Milky Mist Dairy's $2,035 Crore IPO: Pioneering Growth in India's Premium Dairy Sector
Milky Mist Dairy Food Ltd has filed papers with Sebi to raise Rs 2,035 crore through an IPO. The proceeds will primarily address debt repayment and expand the Perundurai facility. The company focuses on premium dairy products and boasts a robust logistics network, directly connecting with over 67,000 farmers.
- Country:
- India
Dairy innovator Milky Mist Dairy Food Ltd has taken a significant step by filing preliminary papers with the Securities and Exchange Board of India (Sebi) seeking to raise Rs 2,035 crore through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP), the IPO will feature a fresh issue of equity shares totaling Rs 1,785 crore and an offer for sale (OFS) valued at Rs 250 crore by the company's promoters. The capital will be allocated to various growth-oriented projects.
Founded in Erode, Tamil Nadu, Milky Mist boasts a strong position in the premium dairy market. By not engaging in liquid milk sales, it has achieved significant profit margins. The firm sustains its operations with automated technology and a seamless logistics network, enhancing supply chain efficiency.
(With inputs from agencies.)
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- Milky Mist
- IPO
- dairy products
- India
- capital raising
- premium dairy
- SEBI
- expansion
- Perundurai
- farmers
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