Milky Mist, a leading food products company based in Erode, is gearing up for a significant milestone in 2025 – its Initial Public Offering (IPO). With a diverse range of products including milk, cheese, paneer, and ice creams, Milky Mist is looking at a hefty valuation of ₹20,000 crore for its ₹2,000 crore IPO. The company closed FY24 with a top-line of around ₹1,900 crore and an EBITDA of approximately 14%, showcasing strong financial performance.
The IPO proceeds are planned to be used for debt repayment and expanding manufacturing and distribution networks nationwide. Milky Mist has been focusing on expanding its product portfolio to include value-added products such as ice creams, chocolates, Greek yogurt, and desserts. The company’s CEO, K Rathnam, highlighted their emphasis on quality, automation, and capacity enhancement to drive growth.
Founded by T Sathish Kumar, Milky Mist started its journey with paneer production in 1994 and has since expanded to offer over 20 value-added products. The company has its logistics chain for distribution and operates a fully automatic Paneer processing plant in Erode. Milky Mist stands out as one of the few listed players based out of Erode, joining the league of established dairy companies like Hatsun Agro, Heritage Foods, Parag Milk Foods, and Dodla Dairy.
The decision by Milky Mist to go public signifies a significant move in the Indian food products industry. With a strong focus on product quality, innovation, and sustainable growth, Milky Mist is poised to make a mark in the market. As the company prepares for its IPO, investors and industry experts are optimistic about its potential growth trajectory and market performance.