Milky Mist gears up for Rs 2,000 cr IPO at a valuation of Rs 20,000 cr

Milky Mist, known for its range from paneer to ice cream, is gearing up for an IPO to raise Rs 1,500-2,000 crore within the next year, valuing the company at Rs 20,000 crore. Founded by T Sathish Kumar in 1994, the Erode-based dairy plans to expand its national footprint beyond South India and enhance its value-added product offerings. With previous attempts to raise funds from private equity slowed by project execution, Milky Mist aims for a 40% revenue growth this fiscal year to Rs 2,700 crore. The IPO will fund expansions including new plants for powders and paneer across Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, and Delhi-NCR.