Milky Mist Dairy Meals Ltd, the Tamil Nadu-based packaged dairy merchandise maker, has raised about Rs 482 crore (round $51 million), in a pre-IPO funding spherical led by Jongsong Investments Pte Ltd, an oblique wholly owned subsidiary of Temasek Holdings.

In accordance with regulatory filings, Jongsong Investments Pte Ltd, an oblique wholly owned subsidiary of Temasek, anchored the funding, offering all the major capital infusion and signalling institutional backing forward of the corporate’s deliberate inventory market debut.

The fundraise features a major infusion of round Rs 357 crore and a secondary share sale price roughly Rs 125 crore.

As a part of the first issuance, Milky Mist allotted 5,43,789 fairness shares at Rs 139.76 every, elevating about Rs 7.6 crore.

It additionally issued 25 lakh compulsorily convertible choice shares on the similar value, producing roughly Rs 349.4 crore. These shares will convert into fairness on a one-to-one foundation previous to itemizing.

Alongside the contemporary capital, promoters Sathishkumar T and Anitha S offered 89,43,903 fairness shares at Rs 139.76 apiece, elevating round Rs 125 crore via the secondary transaction.

After SEBI approval was reported in October 2025, the deal units a valuation benchmark for the corporate’s anticipated IPO, which is anticipated to happen later this yr.

In July, Milky Mist filed draft papers with India’s markets regulator, the SEBI, outlining its plans for a public itemizing.

Proceeds from the IPO are anticipated for use for debt reimbursement, increasing and modernising its Perundurai manufacturing facility, and investing in new product strains together with whey protein focus, yoghurt and cream cheese.

The corporate additionally plans to strengthen its distribution community via further cooling infrastructure.

Based mostly in Erode, Tamil Nadu, Milky Mist focuses on value-added dairy merchandise together with paneer, cheese, yoghurt, butter and ice cream. It has expanded past southern India lately, benefiting from rising demand for branded dairy merchandise and enhancements in cold-chain logistics.