Milky Mist Dairy bags Rs 482 crore pre IPO backing from Temasek subsidiary Jongsong

CCPS conversion locks in 1 1 equity before listing

Milky Mist Dairy Food Ltd has raised about Rs 482 crore in a pre-IPO round led by Jongsong Investments, an indirect wholly-owned subsidiary of Temasek Holdings. The deal includes Rs 357 crore in primary capital and Rs 125 crore from promoter secondary sales. The round used CCPS at Rs 139.76 each, convertible on a 1:1 basis before listing, as the company gears for its Sebi-filed IPO.