Tamil Nadu-based dairy brand Milky Mist is moving forward with its ₹2,035 crore initial public offering in 2026, following regulatory approval received in October 2025. The IPO marks a significant milestone for the fast-growing dairy products maker as it sharpens its focus on premium and protein-rich offerings.
The company expects to sustain an annual revenue growth rate of around 30% for the financial year ending March 31 and in the coming years. Central to its strategy is expanding its portfolio of high-protein products, including Greek yoghurt, protein-enriched cottage cheese, and an upcoming high-protein milk range. Positioning itself around India’s increasing health awareness, the brand sees protein as a long-term growth driver.
Milky Mist competes with established dairy players such as Hatsun Agro and Heritage Foods. As of March 2025, its products were distributed across more than 3.5 lakh retail outlets nationwide. The company aims to expand store coverage by 15% to 20% annually to strengthen its offline footprint.
Quick-commerce platforms are also emerging as a key channel, currently contributing about 10% of total revenue. This share is projected to grow to 12% –15% over the next three years.
On the global front, exports accounted for approximately 4% of revenue in FY25. With the India–US trade deal in place, the company anticipates stronger sales momentum in the United States over the next one to two years.
