Tamil Nadu's Milky Mist plans ₹2,035cr IPO by early August
Business
Milky Mist Dairy Food Ltd. based in Tamil Nadu, is planning to hit the stock market with a ₹2,035 crore IPO by late July or early August.
The offer includes new shares worth up to ₹1,785 crore and founders selling shares worth ₹250 crore.
There's also a chance they'll raise another ₹357 crore before the IPO officially opens.
Funds to expand capacity, repay debt
Milky Mist wants to use the funds to boost its manufacturing capacity and pay off some debt.
They've already wrapped up investor roadshows but haven't locked in an exact launch date yet.
The timing is interesting: other dairy stocks like Parag Milk Foods and Dodla Dairy have struggled lately, but Milky Mist seems confident about growing even when things are tough for the industry.