Milky Mist Dairy Food IPO: The Initial Public Offering (IPO) of packaged food company Milky Mist Dairy Food is all set to open for public subscription on Tuesday, August 11. While the grey market indicates potential for decent listing gains.
Milky Mist Dairy Food IPO GMP
The Rs 1,553 crore book-built issue combines a fresh issue of 10.20 crore shares (to raise about Rs 1,428 crore) and an offer for sale (OFS) of 89 lakh shares (aggregating to Rs 125 crore). The price band has been fixed at Rs 133–Rs 140 per share.
Data from IPO Watch showed the GMP at Rs 26 on August 10 (indicating an 18.57 per cent gain), after touching a high of Rs26 on August 7 and Rs 25 on August 8.
Milky Mist Dairy Food IPO Date
Milky Mist Dairy Food IPO Price Band
The price band for this issue has been fixed at Rs 133 to Rs 140 per share.
Milky Mist Dairy Food IPO Size
The Milky Mist Dairy Food IPO comprises a fresh issue of 10.20 crore shares to raise Rs 1,428 crore and an Offer for Sale (OFS) of 89 lakh shares aggregating Rs 125 crore.
Milky Mist Dairy Food IPO Lot Size
The IPO lot size is 107 shares. Retail investors are required to subscribe to a minimum of one lot. With the upper price band of the issue set at Rs 140, the minimum investment required for retail investors is Rs 14,980. The maximum lot size for retail investors is 13, requiring an investment of Rs 1,94,740.
Milky Mist Dairy Food IPO Reservation
50 per cent for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.
The company also plans to expand its cold-chain infrastructure by deploying visi coolers, ice cream freezers and chocolate coolers, besides using a portion of the proceeds for general corporate purposes.
Founded in Erode, Tamil Nadu, Milky Mist is among India’s leading premium dairy brands focused on value-added dairy products. Its portfolio includes paneer, cheese, curd, yogurt, butter, ghee and ice cream, among other products. The company does not operate in the liquid milk segment.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
Shahnaz writes on a wide range of topics, including business, social issues, politics, environment, lifestyle and gender. She has previously wrote long-form content covering a wide range of topics, including politics, policies, and more. Additionally, she monitored wires services, social media, and local news outlets for breaking news and relevant stories. Also, she honed her skills in short-form writing, delivering accurate and concise content in a time-bound manner, from breaking news to engaging updates and latest developments on the respective topics. She holds a PG Diploma in Media Studies: Film and Television, with a master’s degree in Journalism and Mass Communication: Research from the University of Calcutta. With over 5 years of experience in journalism, including ground reporting, desk, coordination and copywriting, she excels in both arenas – desk and field. She has covered the West Bengal Assembly Elections 2021 and Lok Sabha Elections 2019 and reported on several news stories from West Bengal. She has extensively covered the TMC beat from 2018 to 2021. Apart from work, Shahnaz likes cooking, watching movies and reading books. She also loves travelling.
