Whalesbook
The funding round shows strong investor confidence, especially after the company received regulatory approval for its market debut. Jongsong Investments, an indirectly wholly-owned subsidiary of Singapore's Temasek Holdings, led the investment. The funding comes in two parts: ₹357 crore in new capital and ₹125 crore from a share sale by promoters.
Primary Capital Infusion
The primary capital raise involved issuing new equity shares and compulsorily convertible preference shares (CCPS) at ₹139.76 per unit, totaling about ₹357 crore. These CCPS will convert into equity shares one-to-one before the company lists. Jongsong Investments bought all of this portion, showing a strong commitment.
Promoter Stake Sale
Meanwhile, company promoters Sathishkumar T and Anitha S sold some of their shares, offloading 89,43,903 equity shares. This share sale, also at ₹139.76 per share, raised around ₹125 crore. These sales provide liquidity to early investors and signal founders' continued confidence in the company's post-IPO future.
IPO Plan and Operations
Milky Mist Dairy Foods had previously received approval from the Securities and Exchange Board of India (SEBI) in October 2025 for its ₹2,035 crore IPO. Company officials confirmed no changes are planned for this IPO. The company operates a fully automated dairy processing plant in Perundurai, Erode, Tamil Nadu. Its products include paneer, cheese, ice creams, and protein items, along with acquired brands like Briyas and Asal. For the fiscal year ending March 2026 (FY26), Milky Mist reported revenues of ₹3,275 crore, exceeding its growth targets.