Milky Mist Dairy Reduces IPO Size to 15.53 Billion Rupees

Milky Mist Dairy Foods reduced the size of its initial public offering to 15.53 billion rupees, down from an initial target of 20.35 billion rupees. The reduction follows pre-listing transactions in April during which a unit of the Singaporean state investor Temasek acquired a 5.16% stake in the company.

The offering includes 14.28 billion rupees in new shares and 1.25 billion rupees in shares sold by founders Sathishkumar T and Anitha S. The IPO is scheduled to run from August 11 to 13, with anchor investor bidding occurring on August 10. The company expects to list on the BSE and National Stock Exchange on August 18.

Based in Tamil Nadu, the dairy company reported a 176% profit increase to 1.27 billion rupees for the fiscal year ending March 31. This growth was driven by a premium product range designed for health-conscious consumers.