Milky Mist Dairy Food IPO GMP rises: Check allotment status, odds of getting shares & more

Milky Mist Dairy Food is likely to finalize the basis of allotment of its shares on Friday, August 14. Applicant bidders will get the messages, alerts or emails for debit of their funds by Friday, August 14 or latest over the weekend. The packaged dairy food products player received a strong response from the investors during the three day bidding period.

The IPO of Milky Mist Dairy Food was open for bidding between August 11 and August 13. It had offered its shares in the price band of Rs 133-140 per share with a lot size of 107 shares. The company eyed to raise a total of Rs 1,553 crore via IPO, which included a fresh share sale of Rs 1,428 and an offer-for-sale (OFS) of up to 89,28,570 equity shares worth Rs 125 crore.

The issue was overall subscribed a whopping 56.12 times with nearly 28.60 lakh applications, fetching bids for almost Rs 64,200 crore. The portion for qualified-institutional bidders (QIBs) was subscribed a solid 155.83times. The quotas for non-institutional investors (NIIs), retail bidders and employees were booked 34.91 times, 8.41 times and 12.43 times, respectively.

Based on the bidding, here are the odds of allotment for IPO of Milky Mist Dairy Food:

• Big HNI category: 1 investor out of 8 investors will get 1,498 shares (Probability: 12.50 per cent)
• Small HNI category: 1 investor out of 31 investors will get 1,498 shares (Probability: 3.23 per cent)
• Retail category: 4 investor out of 29 investors will get 107 shares. (Probability: 13.8 per cent)

The grey market premium (GMP) of Milky Mist Dairy Food has seen some rise following strong bidding despite a volatile broader market sentiment. Last heard, it was commanding a premium of Rs 25-26 per share, suggesting a listing pop of 18-19 per cent for the investors. Its GMP stood around Rs 20-22 early in the week.

Incorporated in July 2014, Erode-based Milky Mist Dairy Food is one of India's fastest-growing packaged food companies focused on premium value-added dairy products. It manufactures and markets a diversified portfolio including cheese, paneer, butter, curd, ghee, yogurt, ice cream, UHT products, frozen foods, ready-to-eat, ready-to-cook foods, and chocolates under various brands.


JM Financial Ltd, Axis Capital and IIFL Capital Services are the book-running lead managers of Milky Mist IPO, and Kfin Technologies Ltd will serve as the registrar. Refund of the bidding amount shall be done either on the weekend or latest by Monday, August 17. Shares of the company shall be listed on both BSE Ltd and NSE on August 18.

Investors, who had bid for the issue of Milky Mist Dairy Food, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Milky Mist Dairy Food Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘MILKYMIST’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.