Milky Mist Dairy Food IPO Listing: Shares Debut 18% Above Issue Price Shares of Milky Mist Dairy Food made their debut on the bourses on Tuesday, listing at Rs 165 per share on both the NSE and BSE, nearly 18 percent premium over the IPO price of Rs 140. The initial public offering (IPO) of the packaged food company was subscribed 56.12x in the primary market between August 11 and August 13. Experts have been upbeat on Milky Mist Dairy Food’s growth prospects, citing its strong revenue growth, the value-added dairy categories and premium positioning. While the company has seen strong FY26 performance, with revenue rising 33.58 percent and profit jumping 175.66 percent, analysts have flagged risks from competition and distribution challenges as Milky Mist expands into semi-urban and rural markets. Brokerages have been upbeat on the stock earlier and stated the following: SBI Securities: Milky Mist Dairy Foods focuses primarily on VADP, a higher-margin product compared to its peers, which are heavily invested in traditional, low-margin liquid milk businesses. The company delivered CAGRs of 31.3 per cent/40.5 per cent/155.6 per cent in Revenue/EBITDA/PAT during the FY24-FY26 period, with a FY26 EBITDA margin of 13.7 per cent, up 70 bps YoY and 180 bps since FY24. The IPO is valued at a post-issue FY26 PE multiple of 84.9x at the upper end of the price band. The company plans to repay ?497 cr in debt using IPO proceeds, which is expected to reduce interest costs going forward. This, along with the increase in capacity utilisation, is expected to deliver high double-digit earnings growth in the near term. We recommend investors SUBSCRIBE to the issue. Anand Rathi: Milky Mist is valued at an implied P/E of 84.9x based on FY26 earnings at the upper price band. While its strong revenue growth, leadership in key value-added dairy categories, and premium positioning could justify a valuation premium, the brokerage said the IPO appears fully priced at the upper end of the range. It has therefore assigned a “Subscribe - Long Term” rating to the issue. Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world. Sakshi Bajaj is a seasoned Associate Editor with over 15 years of experience in broadcast journalism. She has anchored, scripted, produced shows and w... View More