Milky Mist raises pre-IPO funding

Milky Mist Dairy Food, an Indian value-added dairy products maker, successfully raised approximately ₹482 crore in a pre-IPO funding round. The round was anchored by PKS Investments, an indirect wholly-owned subsidiary of Singapore-based Temasek Holdings. The fundraise included a primary capital infusion of around ₹357 crore into Milky Mist Dairy Food and a secondary share sale of about ₹125 crore by promoters Sathishkumar T and Anitha S. As part of the primary issuance, Milky Mist Dairy Food allotted equity shares and compulsorily convertible preference shares to PKS Investments. This transaction values Milky Mist Dairy Food at roughly ₹9,300 crore post-money. The funds are intended to support debt repayment, expansion, and modernization of its manufacturing facilities, as well as general corporate purposes, ahead of its planned initial public offering for which it has already received approval from India — Securities and Exchange Board of India.