Milky Mist Confident on 2026 IPO, Targets Strong Growth Amid Market Volatility

Indian dairy products maker Milky Mist is moving ahead with its planned initial public offering in 2026 despite ongoing market volatility, its CEO K. Rathnam said. The Tamil Nadu-based company had secured regulatory approval in October 2025 to raise about 20.35 billion rupees through the share sale. While recent listings such as Fractal Analytics and Shadowfax Technologies have faced weak market debuts amid a broader selloff in tech-related stocks, Milky Mist expects to complete its listing before approval expires in October.

The company is projecting annual revenue growth of around 30%, driven by rising demand for premium and protein-rich dairy products. Milky Mist is expanding its portfolio of value-added offerings such as Greek yogurt and protein-enhanced cottage cheese, while also planning to introduce high-protein milk. Rathnam highlighted India’s protein deficiency and growing health awareness among working-age consumers as key growth drivers for the business.

Milky Mist, which competes with Hatsun Agro and Heritage Foods, continues to expand its retail footprint beyond 350,000 outlets. The company aims to increase store coverage by 15% to 20% annually and expects quick-delivery platforms to contribute up to 15% of revenue within three years. It is also optimistic about export growth, particularly in the United States, as improved trade ties are expected to boost overseas sales.

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