Law firms Khaitan, TT&A, and Hogan Lovells are handling the proposed ₹2,035 crore initial public offering (IPO) for Milky Mist.
Milky Mist Dairy Food Limited, a prominent Indian dairy company, has announced its intention to go public with an initial public offering (IPO) worth approximately INR 20.35 billion (about USD 237 million). The company, which specialises in the procurement, processing, and manufacturing of a wide range of dairy products, offering over 150 value-added dairy products, including milk, yogurt, and cheese, was founded in 1997.
The legal advisors for this significant move have been appointed, with Khaitan & Co advising Milky Mist Dairy Food Limited directly on the IPO. TT&A (Trilegal & Associates) will be advising the book running lead managers (BRLMs) – JM Financial Limited, Axis Capital Limited, and IIFL Capital Services Limited – handling domestic legal matters. Hogan Lovells has been appointed as the international legal counsel for the BRLMs, leading on the international aspects of the IPO.
The transaction teams for both Milky Mist Dairy Food Limited and the BRLMs have been assembled. At Milky Mist, the team consists of Abhinav Kumar (Partner), Shubham Sancheti (Managing Associate), Indira Satish (Senior Associate), Associates - Abhishek Iyer, Soham Vakil, Anand Kumar, Harsh Shekhar, Associates, and Mihika Ambikar (Paralegal). On the BRLMs side, the team includes Aditya Dsouza, an Associate, Suchisubhra Sarkar, a Senior Associate, Kaustubh George, a Counsel, Sanjana Ravjiani, an Associate, Purva Mishra, an Associate, Aditya Rajput, a Senior Associate, Varun Jetly, a Counsel, and Komal Israni, an Associate.
The fresh issue of shares in this IPO amounts to ₹1,785 crore, while an offer for sale of shares worth ₹250 crore by the promoters of Milky Mist Dairy Food Limited is also part of the IPO. The funds raised will be utilised for various purposes, including the expansion of the company's manufacturing facilities, research and development, marketing, and general corporate purposes.
This IPO marks a significant step for Milky Mist Dairy Food Limited, further cementing its position in the Indian dairy industry and providing an opportunity for investors to be a part of its growth story. The IPO is expected to open soon, with details to be announced in due course.
Personal-finance investors may find appeal in Milky Mist Dairy Food Limited's upcoming IPO, as the funds raised will be allocated towards expanding the company's manufacturing facilities, research and development, marketing, and general corporate purposes. The investments made could potentially benefit from the growth of this prominent Indian dairy company in the business sector, and the opportunity to be part of its expansion story.
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