Milky Mist IPO Day 3 Final Subscription Status: 59.07x Subscribed; GMP at ₹29
Milky Mist Dairy Food’s IPO closed with 59.07x subscription on 13 August 2026. The Milky Mist IPO Day 3 Final Subscription Status was led by Qualified Institutional Buyers (QIBs) at 164.03x, while Non-Institutional Investors (NIIs) reached 36.75x and retail demand stood at 8.85x. The latest Grey Market Premium (GMP) was around ₹29, with the issue now closed and listing expected on 18 August.
| Metric | Final update |
| Bidding day | Day 3, Closing Day |
| Data status | Final after bidding closed on 13 August 2026 |
| Overall subscription | 59.07x |
| QIB subscription | 164.03x |
| NII subscription | 36.75x |
| Retail subscription | 8.85x |
| Employee subscription | 13.14x |
| Current GMP | ₹29 |
| GMP percentage | 20.7% |
| Indicative price | ₹169 |
| Closing date | 13 August 2026 |
Milky Mist IPO Day 3 Final Subscription Status
The final subscription numbers show a sharp acceleration in demand on Closing Day, particularly from institutional investors.
| Investor category | Final subscription |
| Qualified Institutional Buyers | 164.03x |
| Non-Institutional Investors | 36.75x |
| Big NII, above ₹10 lakh | 39.09x |
| Small NII, ₹2 lakh to ₹10 lakh | 32.08x |
| Retail Individual Investors | 8.85x |
| Employees | 13.14x |
| Overall | 59.07x |
QIB demand was clearly the largest contributor to the final multiple. NIIs also finished well above the shares reserved for their category, while retail demand reached 8.85 times.
These figures measure the quantity of shares bid for relative to the shares available in each category. They do not represent the number of unique investors or applications. Category allocation also matters when comparing subscription multiples.
Final Day-wise Subscription Trend
Milky Mist’s subscription pattern changed significantly over the three-day bidding period.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 0.83x | Retail, 1.01x |
| Day 2 close | 2.29x | NII, 3.75x |
| Day 3 Final | 59.07x | QIB, 164.03x |
Demand moved from below full subscription on Day 1 to 2.29x at the end of Day 2. The biggest shift came on Closing Day, when QIB subscription climbed sharply and became the main driver of the 59.07x final result.
The final figures therefore show demand across QIB, NII, retail, and employee categories, although the overall multiple was heavily influenced by institutional bids.
Milky Mist IPO GMP Today and Estimated Listing Price
The latest available Milky Mist IPO Grey Market Premium (GMP) was around ₹29 per share in the early evening on 13 August 2026. An earlier available reading on the same day was around ₹22, indicating that the unofficial premium strengthened as bidding concluded.
At the upper issue price of ₹140:
Indicative price = ₹140 + ₹29 = ₹169
GMP percentage = ₹29 ÷ ₹140 × 100 = 20.7%
The current GMP therefore indicates an unofficial price about 20.7% above the upper end of the IPO price band.
GMP is unregulated, can move quickly before listing, and is not published by the Securities and Exchange Board of India (SEBI), NSE, or BSE. It does not guarantee that Milky Mist shares will list at ₹169 or deliver a 20.7% gain.
What Stands Out in Today’s Bidding
The first major signal is the scale of the Closing Day institutional participation. QIB subscription rose to 164.03x, making it the dominant contributor to the final overall demand.
Second, demand was not confined to institutions. NIIs finished at 36.75x, retail at 8.85x, and employees at 13.14x.
There are also two limitations to keep in mind. The 59.07x subscription multiple does not establish whether the IPO valuation is reasonable or whether Milky Mist will deliver strong long-term returns. Similarly, the ₹29 GMP reflects unofficial market sentiment rather than a guaranteed market price.
In this case, subscription and GMP moved in the same direction on Closing Day, but they measure different things and should not be treated as interchangeable signals.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹133 to ₹140 per share |
| Lot size | 107 shares |
| Minimum retail investment | ₹14,980 |
| Issue size | ₹1,553 crore |
| Fresh issue | ₹1,428 crore |
| Offer for Sale (OFS) | ₹125 crore |
| Issue type | Mainboard book-built IPO |
| Closing date | 13 August 2026 |
| Expected listing date | 18 August 2026 |
| Exchange | NSE and BSE |
The minimum retail investment is based on one lot of 107 shares at the upper price band of ₹140.
Brief Company and Financial Context
Milky Mist Dairy Food sells value-added dairy and packaged food products such as paneer, cheese, curd, butter, ghee, yogurt, and ice cream. Revenue reached about ₹3,138.36 crore in FY26, while profit after tax rose to about ₹127.01 crore.
Fresh issue proceeds are planned mainly for debt repayment, expansion and modernisation of the Perundurai manufacturing facility, and additional cooling equipment. One material risk is geographic concentration, with South India contributing about 69% of FY26 revenue. Investors also need to assess whether future growth can justify the valuation implied by the issue price.
What Happens Next
With bidding closed, the next scheduled step is the expected basis of allotment on 14 August 2026. Milky Mist shares are expected to list on the NSE and BSE on 18 August 2026. The GMP may continue to change between allotment and listing.
Frequently Asked Questions (FAQs)
Q: How many times was the Milky Mist IPO subscribed on Day 3?
A: Milky Mist IPO closed with a final overall subscription of 59.07x on 13 August 2026. QIBs led at 164.03x, followed by NIIs at 36.75x, employees at 13.14x, and retail investors at 8.85x.
Q: What is the Milky Mist IPO GMP today?
A: The latest available Milky Mist IPO GMP was around ₹29 per share on 13 August 2026. GMP is an unofficial and unregulated market indicator, so it may change before listing.
Q: What listing price does the current Milky Mist IPO GMP indicate?
A: At an upper issue price of ₹140 and a GMP of ₹29, the indicative price works out to about ₹169 per share. This represents an unofficial premium indication of roughly 20.7%, not a guaranteed listing price.
Q: Does the 59.07x final subscription guarantee a premium listing?
A: No. High subscription reflects bidding demand, while GMP reflects unofficial grey-market sentiment. Neither establishes fair valuation, business quality, or the actual listing price, and neither guarantees future returns.
Disclaimer
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