Milky Mist shares jump 30% to ₹181.5 on market debut
Business
Milky Mist Dairy Food had a standout first day on the Indian stock market, with shares soaring 30% above their issue price to ₹181.5.
This puts the Temasek-backed dairy brand's value at nearly $1.5 billion. The IPO raised $163 million.
Milky Mist ₹1553cr IPO oversubscribed
The ₹15.53 billion IPO was oversubscribed more than twice, with lots of interest from everyday investors and HNIs. Major names like Temasek and HDFC Mutual Fund joined in before the listing.
Milky Mist says it will use the funds to pay off debt and upgrade its main factory in Tamil Nadu.
Plus, this successful listing comes as India's IPO scene is heating up again this year.