Temasek Secures Milky Mist’s ₹482 Crore Pre-IPO Investment Round

Milky Mist Dairy Food has recently concluded a significant pre-IPO funding round, raising INR 482 crore, primarily led by Jongsong Investments Pte, a subsidiary of Temasek Holdings. This strategic funding has been structured to facilitate both expansion and a secondary sale, with the transaction executed at a price of INR 139.76 per share, placing the company’s pre-money valuation at approximately INR 8,976.6 crore. The breakdown includes a primary capital infusion of around INR 357 crore, alongside a secondary sale of shares amounting to INR 125 crore, demonstrating a robust backing from institutional investors.

The company’s revenue trajectory signals a promising growth landscape, reporting INR 3,275 crore for FY26, surpassing its own internal projections. Milky Mist has adeptly tapped into the premium dairy market, reflecting a shift in consumer behavior towards value-added products such as paneer, cheese, and yogurt, alongside emerging verticals like ice cream and protein-based offerings. With recent acquisitions further enhancing its portfolio, the company is well-positioned for continued expansion, particularly as it gears up for operational scaling at its fully automated Perundurai facility.

The involvement of Temasek underscores institutional confidence in the premiumization trend within the Indian dairy sector. With SEBI approval for the IPO, expected to soon progress as the company evaluates market conditions, the total IPO size is anticipated to be recalibrated to approximately INR 1,553 crore. For Indian investors, this represents a significant opportunity, reflecting not only the growth potential of the dairy sector but also Milky Mist’s strategic positioning, operational efficiencies, and commitment to innovation in product offerings.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)