Milky Mist Dairy Food IPO
Milky Mist Dairy Food IPO is a mainboard IPO raising ₹1,553 Cr at ₹133 – ₹140 a share. It listed on 18 Aug 2026 at ₹165, +17.9% against its issue price of ₹140, and trades at ₹300 today (+114.0% since issue). It was subscribed 56× in total.
56.1 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs1553 Cr vs derived Rs1553 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 22% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Bikaji Foods International Limited | 62.33× | 16.07% | ₹10.3 |
| Britannia Industries Limited | 51.98× | 49.61% | ₹105.18 |
| Dodla Dairy Limited | 24.26× | 15.95% | ₹44.26 |
| Hatsun Agro Product Limited | 58.2× | 18.32% | ₹15.99 |
| Nestle India Limited | 79.76× | 67.85% | ₹18.15 |
| Parag Milk Foods Limited | 21.28× | 10.73% | ₹10.57 |
| Tata Consumer Products Limited | 70.08× | 7.08% | ₹15.58 |
| This issue | 71.1× | 33.6% | ₹1.97 |
derived: cut-off price Rs140 / stated EPS Rs1.97 (Fiscal 2026 diluted EPS, restated consolidated (adjusted for CCPS conversion)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.