IPO · Commerce & Consumer Brands

Milky Mist plans ₹2,035 crore IPO in 2026

By Startup Enthusiast · 27 February 2026

What they do

Milky Mist makes premium dairy products like Greek yoghurt and protein cheese

It plans a ₹2,035 crore IPO in 2026 after regulatory approval in October 2025

The company expects ~30% annual revenue growth and competes with Hatsun Agro and Heritage Foods

Milky Mist plans to proceed with its ₹2,035 crore IPO in 2026.
The company received regulatory approval for the IPO in October 2025.
The CEO expects ~30% annual revenue growth for the fiscal year ending 31 March and beyond.
The company focuses on premium dairy: Greek yoghurt, protein-enriched cottage cheese, and high-protein milk.
CEO Rathnam says India is protein-deficient and protein will be a major factor.
Milky Mist competes with Hatsun Agro and Heritage Foods.
Products are available across 350,000+ retail outlets as of March 2025.
The company aims for 15-20% annual growth in store coverage.

Quick-commerce platforms are expected to contribute 12-15% of revenue in 3 years, from ~10% currently.
Exports account for ~4% of revenue in fiscal 2025.
The company expects US sales to rise in 1-2 years after an India-US trade deal.

Milky Mist is India's fastest-growing packaged food company with 400+ products.
New products include Sugar Free Ice Cream, Milk Shakes, Chocolate Condensed Milk, and Greek Yogurt varieties.
It has a milk procurement network across Tamil Nadu with ties to local dairy farmers.
The company operates 24 MW solar plants and a 2 MW wind farm in Tamil Nadu.