Milky Mist IPO opens with strong GMP, analysts split on valuation

Milky Mist Dairy Food's ₹1,553 crore IPO opens for subscription on August 11 and closes on August 13, with a price band of ₹133-140 per share. The grey market premium is around 20%, suggesting strong listing gains. Analysts are divided: SBI Securities and SMIFS recommend subscribing, citing strong growth and margin expansion, while Anand Rathi notes the IPO appears fully priced at 84.9x FY26 P/E. Proceeds will repay debt and fund expansion.