The initial public offering (IPO) of Milky Mist Dairy Food, valued at Rs 1,553 crore, was fully subscribed on Day 2 of the bidding process, driven by robust demand from both retail and non-institutional investors (NIIs).

Milky Mist is a Tamil Nadu–based dairy company best known for value-added products such as paneer, cheese, curd, and yogurt, a segment that typically carries higher margins than commoditized liquid milk. India is the world's largest milk producer, and the value-added dairy category has been drawing increased investor attention as consumer preferences shift toward branded, protein-rich packaged foods.

The grey market premium (GMP) for the issue climbed to over 17%, signaling notable investor interest in the unlisted market ahead of the official listing.

Brokerage firm Anand Rathi assigned a Subscribe – Long Term rating to the IPO. The recommendation was based on the company's growth prospects, though the brokerage also flagged the premium valuation embedded in the issue price.

The Milky Mist Dairy Food IPO opened for subscription and will remain available for investors to bid until August 13. Market participants will be watching the final subscription figures at close and the listing-day performance as indicators of broader appetite for dairy-sector public offers.

Source: Economic Times Markets