Milky Mist Dairy Food shares surge 30% in Indian market debut

Milky Mist Dairy Food, a Temasek-backed producer of value-added dairy products, saw a strong stock market debut on August 18, 2026. The company’s shares listed on the NSE and BSE at ₹165, representing an 18 percent premium over its IPO price of ₹140. During intraday trading, the stock climbed as high as ₹181.50, marking a 30 percent gain and hitting the upper circuit.

The ₹1,553 crore initial public offering (IPO) experienced significant investor interest, with total subscriptions reaching approximately 56 times. Demand was particularly high among qualified institutional buyers, who subscribed to their portion over 155 times. The offering included ₹1,428 crore in fresh shares and ₹125 crore through an offer for sale.

Analysts noted that the company’s leadership in categories such as paneer, yogurt, and cheese, combined with a strong revenue CAGR, supported the positive market reception. Milky Mist plans to use the proceeds to repay debt and fund expansion. Following the listing, the company’s market capitalization was estimated at approximately ₹13,970 crore.