π Milky Mist shares jump 18% post IPO
Milky Mist Dairy Food shares debuted on the bourses at Rs 165, marking an 18% premium over the IPO price of Rs 140. The Rs 1,553-crore IPO was oversubscribed 56.12 times, with strong demand from QIBs at 155.83 times. The company plans to use net proceeds to strengthen its balance sheet and fund expansion efforts. Specifically, Rs 496.86 crore is earmarked for repaying borrowings, while Rs 469.24 crore will fund facility upgrades. This deployment reflects a focus on deleveraging and enhancing market reach. π