· Price Band fixed at ₹133 to ₹140 per equity share of face value of ₹2 each of Milky Mist Dairy Food Limited (“Equity Shares”);
· The Floor Price is 66.50 times the face value of Equity Shares and the Cap Price is 70.00 times the face value of the Equity Shares;
· Bid /Offer will open on Tuesday, 11 August 2026 and close on Thursday, 13 August 2026. The Anchor Investor Bidding Date is Monday, 10 August 2026;
· Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter;
· A discount of ₹13 per Equity share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
Mumbai | Milky Mist Dairy Food Limited (the “Company”) will open the Bid / Offer in relation to its initial public offering of the Equity Shares on Tuesday, 11 August 2026. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, on Monday, 10 August 2026. The Bid/Offer will close on Thursday, 13 August 2026.
The Anchor Investor Bidding Date shall be Monday, 10 August 2026.
Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.
The Price Band has been fixed at ₹133 to ₹140 per Equity Share.
The total offer size is Up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹15,530.00 million.
The Offer comprises of a Fresh Issue of up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹ 14,280.00 million and an Offer for sale of up to [●] Equity Shares aggregating up to ₹1,250.00 million. The Offer for Sale comprises up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹750.00 million by Sathishkumar T and up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹500.00 million by Anitha S.
A discount of ₹ 13 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The company, in consultation with the Book Running Lead Managers, undertook a pre-IPO placement of (I) 543,789 Equity Shares of face value of ₹2 each at a price of ₹139.76 per Equity Share (including a premium of ₹137.76 per Equity Share); and (II) 25,000,000 compulsorily convertible preference shares (CCPS) of face value of ₹2 each at a price of ₹139.76 per CCPS, aggregating to ₹ 3,570.00 million, as permitted under the applicable law.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited. For the purposes of the Offer, the Designated Stock Exchange shall be National Stock Exchange of India Limited.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, “QIB Portion”), provided that our Company in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”). 40% of the Anchor Investor Portion shall be reserved as: (i) 33.33% for domestic Mutual Funds; and (ii) 6.67% for life insurance companies and Pension Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations.
In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, (a) not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million and up to ₹ 1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 1.00 million) and (b) not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (‘RIBs’) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (defined hereinafter), which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be, to the extent of their respective Bid Amounts.
JM Financial Limited, Axis Capital Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are the Book Running Lead Manager’s to the issue.
