Milky Mist makes strong market debut

Milky Mist Dairy Food Ltd made a strong debut on the bourses on Tuesday. The company’s shares listed at Rs 165, a nearly 18 per cent premium over its issue price of Rs 140.

Listen to this article

The Erode-based company’s Rs 1,553 crore initial public offering opened from subscription from 11 August to 13 August with a price band of Rs 133-140 a share. The issue was subscribed 56.12 times.

Milky Mist IPO comprised of fresh issue of Rs 1,428 crore and an offer for sale of up to Rs 125 crore by existing shareholders Sathishkumar T, the company’s Chairman and Managing Director and Anitha S., Whole-time Director.

In 1998, Milky Mist brand was launched and it commenced the production of its flagship product Paneer.  Later it expanded into other categories.

Milky Mist shares surged further and was trading at Rs 181.45 on BSE.

Latest

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within...

Arka Fincap to get funding from TPG

The strategic investment comprises an initial investment of Rs...

Newsletter

Don't miss

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within...

Arka Fincap to get funding from TPG

The strategic investment comprises an initial investment of Rs...

BlueStone records 45% growth in festive season

The growth was largely buyer transaction driven with average...

IIFL Finance to Raise Rs 5,000 Crore from Blackstone

The deal marks one of the largest Primary Private Equity Infusions in a Listed Indian NBFC. The CCPS will convert into equity shares at Rs...

Commodity volatility to continue: MRF

“Raw material and logistics costs are expected to remain elevated. We will continue to take measured steps to address these challenges, the Chennai-based company...

Hindustan Coca-Cola Holdings files for IPO

Hindustan Coca-Cola Holdings is Coca-Cola Company’s largest bottler within the Coca-Cola System in India based on units of Concentrate sold. The Offer is entirely an...