Dairy products manufacturing company Milky Mist is planning to list in the stock market through IPO. The company has selected JM Financial, IIFL Capital Services and Axis Capital as bankers for the IPO.
IPO launch expectations
According to sources, IPO work is already underway. Milky Mist is expected to file draft papers by the middle of this year, and then list on stock exchanges by the end of 2025. The company aims to raise around Rs 2,000 crore ($235 million) through its IPO and aims to be valued at around Rs 20,000 crore (about $2.3 billion).
current financial situation
Milky Mist is on track to end fiscal 2025 with revenues of Rs 2,500 crore, up 25 percent from Rs 2,000 crore in fiscal 2024. The company is expected to achieve a net profit of around Rs 65 crore this year. Milky Mist earned revenue of Rs 1,437 crore in FY23, up 42 per cent from Rs 1,015 crore in FY22. However, the company reported a profit of Rs 28 crore in FY23, which is 13 percent less than the previous year.
Company history and expansion plans
Milky Mist was founded in 1985. The company started producing cheese in 1994 and subsequently expanded into value-added products such as curd, butter, ice cream. Based in Erode, Tamil Nadu, the company is run by T. Sathish Kumar, his wife Anita Sathish Kumar and Chief Executive Officer (CEO) K Ratnam, who was previously managing director at Amul Dairy. Milky Mist now plans to expand its presence in North and West India.
The company’s IPO is likely to provide new opportunities to investors, especially as it moves towards increasing its presence in the market.
