Milky Mist Dairy Food Ltd IPOMILKYMIST

Initial public offering of 110,943,192 equity shares of face value of Rs. 2 each ("Equity Shares") of Milky Mist Dairy Food Limited ("the Company" or "Issuer") for cash at a price of Rs. 140 per equity share (Including a premium of Rs. 138 per Equity Share) ("Offer Price") aggregating to Rs. 1553.00 Crores comprising a fresh issue of 102,014,622 equity shares of face value of Rs. 2 each aggregating to Rs. 1428.00 crores by the company (the "Fresh Issue") and an offer for sale of 8,928,570 equity shares ("Offered Shares") aggregating to Rs. 125.00 Crores by Sathishkumar T and Anitha S (the "Promoter Selling Shareholders", and such offer for sale by the promoter selling shareholders, the "Offer for Sale" together with the fresh issue, the "Offer"). This offer includes a reservation of 157,480 equity shares of face value of Rs. 2 each aggregating to Rs. 2 Crores (Constituting 0.02% of the post-offer Paid-up Equity Share Capital of the Company) for subscription by eligible employees (the "Employee Reservation Portion"). The company, in consultation with the book running lead managers, may offered a discount of 9.29% on the offer price (Equivalent of Rs. 13 per equity share) to eligible employees bidding under the employee reservation portion ("Employee Discount"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constituted 14.41% and 14.39%, respectively of the post-offer paid-up equity share capital of the company. The company, in consultation with the book running lead managers, undertook a pre-ipo placement of (i) 543,789 equity shares of face value of Rs. 2 each at a price of Rs. 139.76 per equity share (including a premium of Rs. 137.76 per equity share); and (ii) 25,000,000 ccps of face value of Rs. 2 each at a price of Rs. 139.76 per ccps, aggregating to Rs. 357.00 million, as permitted under the applicable law. The pre-ipo placement was at a price decided by the company, in consultation with the book running lead managers and was completed prior to filing of this red herring prospectus with the roc. The amount raised pursuant to the pre-ipo placement was reduced from the fresh issue, subject to compliance with rule 19(2)(b) of the securities contracts (regulation) rules, 1957, as amended and the size of the fresh issue has been revised to up to Rs. 1428.00 Crores. The pre-ipo placement did not exceed 20% of the original size of the fresh issue as disclosed in the draft red herring prospectus. The company had appropriately intimated the subscribers to the pre ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement has been appropriately made in the relevant sections of this red herring prospectus and will be made in the prospectus. Price Band: Rs. 140 per equity share of face value of Rs. 2 each. The floor price 70.00 times the face value of the equity shares, respectively. Bids can be made for a minimum of 107 equity shares of face value of Rs. 2 each and in multiples of 107 equity shares of face value of Rs. 2 each thereafter. A discount of Rs. 13 per equity share is being offered to eligible employees bidding in the employee reservation portion.

Milky Mist Dairy Food Limited was initially formed as a partnership Firm as 'M.M.D. Dairy' at Erode, Tamil Nadu, pursuant to a Deed of Partnership dated November 30, 1998, and a Certificate of Registration dated February 1, 1999 issued by the Registrar of Firms, Periyar (Erode). The name of the Firm was changed to 'Milky Mist Dairy Food' dated August 2, 2006 issued by the Registrar of Firms, Periyar (Erode). The Firm subsequently converted and Company incorporated as a private Limited Company under the name 'Mily Mist Dairy Food Private Limited' pursuant to a certificate of incorporation dated July 10, 2014 issued by the RoC. Subsequently, it converted the status into a public limited Company, following which the name of the Company was changed to 'Milky Mist Dairy Food Limited' and a fresh Certificate of incorporation dated May 26, 2025, was issued by the RoC. Milky Mist Dairy Food was the one of the first private companies to launch branded packaged paneer in India and subsequently established product categories through introduction of curd, ghee, butter, cheese, yogurt, ice cream, UHT long shelf life products, chocolates and sweetened condensed milk over the years. It operate two manufacturing facilities, of which one is located in Perundurai, Erode District, Tamil Nadu in producing dairy products. The other facility is located in Bengaluru, Karnataka in producing frozen foods, including RTE and RTC products. In 2009, Company diversified the portfolio to include products such as ghee, butter, khova, and curd; diversified the portfolio to include products such as yogurt and cheese in 2011; product portfolio to include whey powder in 2017. The Company established Milky Mist Mega Plant' Manufacturing Facility at Perundurai, Erode in 2018. It expanded the business with the launch of dairy whitener, cream cheese, probiotic curd, UHT range of products, and further launched frozen foods in 2020. It launched greek yogurt and Skyr' high protein yogurt in 2022; further it diversified the business by launching ice-cream, chocolate and sweetened condensed milk products in 2023. The Company increased the installed capacity of Set curd from 120 metric tons per day to 240 metric tons per day and pouch curd from 240 metric tons per day to 480 metric tons per day in 2025. Company is planning to raise funds aggregating an issuance of Rs 2035 Cr equity shares of face value of Rs 2 each, comprising a fresh issue of Rs 1785 Cr and Rs 250 Cr equity shares through offer for sale.