Milky Mist sets ₹133-140 IPO price band, aims for ₹1,553 crore

Milky Mist Dairy Food Limited set the ₹133 to ₹140 price band for its ₹1,553-crore initial public offering, which opens Tuesday, August 11, 2026. Each equity share carries a face value of ₹2. Anchor investor bidding is scheduled for Monday, August 10, the company said, and the offer closes Thursday, August 13.

The full offer aggregates up to ₹15,530 million, or ₹1,553 crore. A fresh issue of up to ₹14,280 million makes up the bulk; the offer for sale adds ₹1,250 million, split between Sathishkumar T at ₹750 million and Anitha S at ₹500 million. Proceeds of the fresh issue go to the company, while the two selling shareholders collect the offer-for-sale money. No other shareholder is selling into the issue. At just over 8% of the total, the secondary slice is thin.

Retail investors bid in a minimum lot of 107 shares, and larger applications go in multiples of that. The cheapest application, at the ₹133 bottom of the band, costs ₹14,231. The same lot runs ₹14,980 at the ₹140 top. At the 35% minimum, the retail slice of the offer comes to about ₹544 crore; covering it once would take close to 363,000 minimum-lot bids. Employees bidding under the reservation portion get a ₹13-per-share discount, an effective cap of ₹127. The ₹13 concession is roughly 9% of the ₹140 ceiling, almost twice the band's ₹7 width. The ₹127 cap also sits below the ₹133 floor of the public band, so employees pay less per share than any outside bidder.