Milky Mist Dairy Food shares list at 18% premium on NSE, BSE; here's how much investors made per lot

This reflects a premium of 17.86% over the IPO issue price of ₹140 per share.

Milky Mist Dairy Food share price: Here's how much investors made per lot

The ₹1,553 crore IPO was a combination of a fresh issuance of equity shares worth ₹1,428 crore and an offer-for-sale (OFS) of ₹125 crore by promoters, Anitha S and Sathishkumar T.

The fresh funds raised will be used for expansion and modernisation of the production unit and strengthening of its cold-chain infrastructure and repayment of outstanding borrowings.

The money will also be utilised for establishing whey protein concentrate, yoghurt and cream cheese plants, as well as installing ice cream freezers and chocolate coolers. The remaining proceeds will be utilised for corporate general purposes.

The IPO was subscribed 56.12 times, with bids for 4,59,04,22,836 shares compared to 8,17,98,244 shares on offer, according to the NSE data.

Before the IPO, the company had raised ₹465.30 crore from anchor investors, including Zulia Investments, Nippon India Mutual Fund (MF), HDFC MF, ICICI Prudential MF, India Acorn Fund, Public Sector Pension Investment Board-IIFL Asset Management and International Finance Corporation (IFC).

Milky Mist Dairy Food Ltd, founded in Tamil Nadu, is a packaged-food firm focused on value-added dairy products such as curd, paneer, yoghurt, butter, cheese, ice cream and ghee, among others.