Milky Mist Dairy Food Limited has raised approximately ₹482 crore in a pre-IPO funding round led by Jongsong Investments Pte. Ltd., an indirect wholly owned subsidiary of Singapore-based investment giant Temasek Holdings. The investment signals strong institutional confidence in the dairy company ahead of its planned public listing.
The fundraise includes a primary capital infusion of around ₹357 crore and a secondary share sale worth ₹125 crore. As part of the primary issuance, the company allotted 5,43,789 equity shares at ₹139.76 per share, raising about ₹7.6 crore. Additionally, Milky Mist issued 25,00,000 compulsorily convertible preference shares (CCPS) at the same price, mobilizing nearly ₹349.4 crore. These CCPS will be converted into equity shares on a 1:1 basis before the IPO.
Jongsong Investments led the entire primary investment, reinforcing Temasek’s strategic interest in India’s growing dairy sector. Meanwhile, promoters Sathishkumar T and Anitha S divested 89,43,903 equity shares, generating approximately ₹125 crore through a secondary transaction.
The pre-IPO round strengthens Milky Mist’s capital base and positions it for its upcoming market debut, as it looks to expand operations and scale its presence in the competitive dairy industry.
