Milky Mist Dairy Meals Ltd, the Tamil Nadu–primarily based packaged dairy merchandise maker, has acquired approval from the Securities and Alternate Board of India (SEBI) to boost Rs 2,035 crore via an preliminary public providing (IPO).

The difficulty, comprising a recent concern of as much as Rs 1,785 crore and a proposal on the market (OFS) of as much as Rs 250 crore by promoters T Sathishkumar and Anitha S, will assist the corporate fund its subsequent section of progress, cut back debt, and strengthen its place within the premium dairy FMCG house.

In response to its draft pink herring prospectus (DRHP), Milky Mist plans to deploy Rs 750 crore from the proceeds towards compensation or prepayment of borrowings, Rs 414.7 crore for increasing and modernising its Perundurai manufacturing facility, together with establishing new whey protein focus, yogurt, and cream cheese crops, and Rs 129.4 crore for visi coolers, freezers, and chocolate coolers. The rest will go towards normal company functions.

Based in Erode, Milky Mist has constructed its enterprise completely round value-added dairy merchandise corresponding to paneer, cheese, curd, yogurt, butter, ghee, and ice cream, steering away from liquid milk to keep up greater margins corresponding to these of FMCG firms.

The corporate operates totally automated, tech-driven services and sources milk straight from over 67,000 farmers. Its paneer and curd are priced 10–25 % greater than competing manufacturers.

Milky Mist reported income of Rs 2,349 crore in FY25, up from Rs 1,394 crore in FY23, marking a compound annual progress fee of practically 30%. New merchandise contributed Rs 511 crore to FY25 income, whereas core classes, paneer, curd, yogurt, ghee, and butter, accounted for 75.4%. The corporate operates one among India’s largest paneer crops, with a capability of 150 tonnes per day.

Milky Mist markets its merchandise underneath its flagship model in addition to sub-brands corresponding to Capella, SmartChef, and Misty Lite. It lately acquired Asal and Briyas to broaden its portfolio. The corporate additionally runs a frozen-foods unit in Bengaluru.

JM Monetary, Axis Capital, and IIFL Capital are the book-running lead managers to the problem, with KFin Applied sciences serving as registrar. The shares shall be listed on the BSE and NSE, with 50% of the web supply reserved for certified institutional consumers, 15% for non-institutional traders, and 35% for retail traders.