Started making paneer for South Indian hotels with a 10kg batch sent in a plastic bag to Bengaluru in 1993, Sathish Kumar has built Milky Mist into one of India's most recognised dairy brands, with an IPO that closed fully subscribed on its second day of bidding this week.
The offering, which opened on 12 August 2026, received bids for 154.16 million shares, 1.88 times the shares on offer, according to exchange data reported by Reuters. Retail investors subscribed 2.20 times their allotted portion. Non-institutional investors came in at 2.95 times. The Rs 1,553 crore IPO had already raised Rs 465 crore from 19 anchor investors before bidding opened, including Singapore state investor Temasek's Jongsong Investments, the International Finance Corporation, and HDFC Mutual Fund.
