Milky Mist Dairy Food has confirmed the launch of its initial public offering on 11 August, with subscriptions remaining open until 13 August.
The Tamil Nadu-based manufacturer of value-added dairy products has reduced the issue size to ₹1,553 crore, a significant contraction from the ₹2,035 crore ($243 million) target outlined in its draft prospectus filed earlier this year.
The company, backed by Singapore’s sovereign wealth fund Temasek Holdings, plans to use the proceeds primarily to repay debt and fund working capital requirements.
The decision to trim the issue size by ₹482 crore reflects a recalibration of investor appetite and market conditions since the initial filing.
While the company has reported a notable increase in profits, the scaled-back offering suggests management is prioritizing a successful debut over maximizing capital raised in the current session.
The price band for the IPO is expected to be announced shortly before the book opens, providing the first concrete signal of valuation expectations.