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Milky Mist Secures $482M for IPO Push
4 May
Summary
- Milky Mist Dairy raised Rs 482 crore in pre-IPO funding.
- Temasek-backed Jongsong Investments led the funding round.
- Funds will support expansion, capacity, and brand building.
Milky Mist Dairy Food has secured about Rs 482 crore through a pre-IPO funding round, bolstering its financial standing before its anticipated stock market listing. The investment was led by Jongsong Investments, an indirect subsidiary of Temasek Holdings, signaling strong institutional confidence in the rapidly growing Indian dairy brand.
The total fundraising comprises Rs 357 crore in primary capital infusion and Rs 125 crore from a secondary share sale. This financial injection is strategically aimed at supporting Milky Mist's growth initiatives, including expanding operations, increasing production capacity, and reinforcing its distribution channels.
Founded in Tamil Nadu, Milky Mist has established a significant presence in premium dairy products such as paneer, cheese, and curd. The company's expansion beyond Southern India has been driven by increasing demand for branded dairy products and improved cold-chain logistics.
The investment by Temasek underscores the growing interest of global investors in India's consumption sector, even amidst market fluctuations. This capital will be instrumental for Milky Mist as it prepares for its next phase of expansion and aims for a successful public offering.
