Milky Mist Dairy Food Ltd. is preparing to launch an initial public offering worth ₹2,035 crore ($243 million) by the end of July, according to a draft prospectus filed with regulators.
The proposed transaction combines a fresh issue of shares valued at up to ₹1,785 crore with an offer for sale by the company’s founders totaling ₹250 crore.
The capital raise is designed to support the company’s operational scaling and balance sheet optimization.
Proceeds from the fresh issue will be allocated toward expanding manufacturing capacity and repaying existing debt, the filing indicates.
This dual-purpose use of funds suggests a focus on both growth acceleration and financial deleveraging ahead of the public listing.
The move places Milky Mist in a crowded segment of the Indian equity market, where investor appetite for consumer staples and food processing firms has remained robust.