India’s Milky Mist Dairy Files For Ipo 

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India’s Milky Mist Dairy Food is looking to raise up to Rs20.35bn ($234.7m) done an first nationalist offering of shares. 

In its draught reddish herring prospectus revenge pinch nan Securities and Exchange Board of India, nan group said its IPO includes a caller rumor of Rs17.85bn and an offer-for-sale of Rs2.5bn by promoter shareholders Sathishkumar T and Anitha S. 

All nan shares are priced astatine Rs2 each.

Erode, Tamil Nadu-headquartered Milky Mist plans to usage nan nett proceeds from nan caller rumor for repaying definite indebtedness and superior expenditure for expanding and modernising nan Perundurai manufacturing facility.  

The costs will besides beryllium utilized to put successful visi coolers, ice-cream freezers, and cocoa coolers, on pinch wide firm purposes. 

Milky Mist specialises successful value-added dairy products specified arsenic paneer, cheese, and yogurt, on pinch crystal cream, ghee, and butter.  

With nan listing of equity shares, nan institution expects to heighten its visibility and marque image, arsenic good arsenic create a nationalist marketplace for its equity shares successful India. 

Milky Mist’s marque portfolio includes its namesake line, SmartChef, Capella, and Misty Lite. It besides precocious acquired Briyas and Asal.  

Its products are sold crossed aggregate channels including wide trade, modern trade, Horeca, and online platforms. 

In nan financial twelvemonth ended connected 31 March, Milky Mist’s gross from operations accrued to R23.49bn, marking an summation of 29%.  

EBITDA reached Rs3.1bn, reflecting maturation of 39.6%.

Profit aft taxation saw a emergence to R460.74, a 137% summation from nan pervious year.   

The group sources beverage from much than 67,000 farmers located crossed nan states of Tamil Nadu, Andhra Pradesh and Karnataka.