Temasek-backed Milky Mist targets $1.13 billion valuation in trimmed India IPO
Milky Mist Dairy Food is preparing for its stock market debut, aiming for a valuation of approximately $1.13 billion. This valuation is slightly lower than its previous target, a shift attributed to a reduction in the number of shares offered. The company has also completed pre-listing stake sales to Temasek, a significant Singaporean investment firm, which has influenced the final offering size.
For investors, the IPO represents an opportunity to gain exposure to the growing Indian dairy sector. The company plans to use the raised capital primarily to repay debt and expand its production facilities. The stock is scheduled to list on August 18th, making it a key event to watch for market participants interested in consumer goods and food and beverage sectors.
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