Milky Mist Dairy Food Ltd's initial public offering (IPO) was fully subscribed on its second day, August 12, with the retail portion booked 1.26 times, according to thehindubusinessline.com. The IPO opened on August 11 and will close on August 13. The grey market premium (GMP) for Milky Mist shares stands at ₹22.50, with an estimated listing price of ₹162.50 per share based on the upper price band and GMP, per livemint.com.
The IPO attracted strong investor interest from the outset, with subscription reaching 79% by the end of the first day, livemint.com reported. The offering is for the mainboard and has seen active bidding from retail investors, contributing to the oversubscription of the retail portion. Milky Mist Dairy Food Ltd is leveraging this momentum ahead of the subscription deadline on August 13, aiming to capitalize on the robust demand from individual and institutional investors.
This IPO comes at a time when the packaged food sector is gaining traction among investors, driven by rising consumer demand and expanding market opportunities. Milky Mist’s successful subscription reflects growing confidence in dairy and packaged food companies. The retail portion oversubscription of 1.26 times highlights strong retail investor participation, a key indicator of market sentiment. The grey market premium suggests positive expectations for the stock’s listing performance, aligning with trends seen in recent food sector IPOs.
The IPO subscription will close on August 13, after which the company will finalize allotments. The estimated listing price of ₹162.50 per share, based on the GMP and upper price band, will be closely watched by market participants as the shares debut on the stock exchange, according to livemint.com.