Milky Mist Dairy secures major backing ahead of IPO listing. The value-added dairy company has raised approximately 482 crore rupees in a pre-IPO funding round led by Temasek Holdings affiliate Jongsong Investments. The investment comprises 350 crore in primary capital and 120 crore from promoter share sales. Milky Mist issued convertible preference shares at 139.76 rupees per share, which will convert to equity prior to listing. The company achieved revenue of 3,275 crore in FY26, demonstrating strong growth across ice creams, beverages, paneer, and cheese categories. SEBI approved the company's 2,035 crore IPO last October, with the listing window remaining open until October this year as management evaluates optimal market conditions for the public offering.
