Milky Mist share price made its stock market debut on Tuesday, listing at a 18 per cent premium over the IPO price of Rs 140 per share. On the NSE, the stock started trading at Rs 165 per share, up 17.86 per cent over the IPO price. The Milky Mist Dairy Food shares opened at Rs 165 on BSE as well.
The company's IPO price band was set at Rs 133-140 per share. Upon debut, Milky Mist's market capitalisation stood at Rs 12,702.42 crore at the listing price. The listing was marginally better than grey market expectations, which were showing a potential listing gain of 14 per cent.
IPO Details
The Rs 1,553 crore IPO of Milky Mist Dairy Food was opened for public subscription between August 11-13 last week. The share sale received 56.12 times subscription, getting bids for 4,59,04,22,836 shares as compared to 8,17,98,244 offered shares.
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Category-wise Subscription Status
- The robust subscription numbers were led by Qualified Institutional Buyers (QIBs), with a 155.83-times subscription.
- The shares reserved for Non-Institutional Investors were subscribed 34.91 times.
- Retail Individual Investors placed 8.41 times the bids.
- The shares reserved for Employees were subscribed 12.43 times.