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Milky Mist secures Rs 482 crore from Temasek unit and resets IPO valuation to Rs 9300 crore
Business
Published on 7 May 2026
Valuation drops sharply after an earlier Rs 20000 crore target
Milky Mist Dairy Food Ltd, headquartered in Erode, has raised about Rs 482 crore in a structured pre-IPO round anchored by Jongsong Investments, an indirect Temasek unit. The deal sets a valuation floor near Rs 9,300 crore, far below the earlier Rs 20,000 crore target. With SEBI IPO approval already secured, funds will support debt repayment and manufacturing and new product expansion.
- Pre-IPO funding totals around Rs 482 crore from Temasek-linked Jongsong
- IPO valuation benchmark set at roughly Rs 9,300 crore after a major reset
- Deal uses primary infusion and promoter secondary share sale
- Proceeds planned for debt repayment, facility expansion and new dairy categories
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