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Milky Mist files DRHP for Rs 2,035crore IPO
Milky Mist files DRHP for Rs 2,035crore IPO

Time of India

time2 days ago

  • Business
  • Time of India

Milky Mist files DRHP for Rs 2,035crore IPO

CHENNAI: Milky Mist Dairy Food Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise up to Rs 2,035 crore. The offer comprises a fresh issue of up to Rs 1,785 crore and an offer for sale of up to Rs 250 crore by promoter shareholders Sathishkumar T and Anitha S. Out of the fresh issue of up to Rs 1,785 crore net proceeds, the company plans to use Rs 750 crore for repayment/ prepayment of debt, Rs 414 crore for expansion and modernisation of its manufacturing facility in Perundurai, including installation of whey protein concentrate, yogurt, and cream cheese plants. Milky Mist operates one of the largest paneer production capacities in India with a capacity of 150 metric tons per day. It plans to use Rs 129 crore for deployment of coolers, ice cream freezers and chocolate coolers and the rest towards general corporate purposes. Founded in Erode, Tamil Nadu , Milky Mist focused on premium value-added dairy products (VADPs), including paneer, cheese, yogurt, curd, ice cream, and packaged foods. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Swelling and internal bleeding in the brain, help this baby Donate For Health Donate Now Undo Through the IPO, the company aims to capitalise on the rising demand for premium value-added dairy products, enhance its manufacturing capacity and reduce debt. Milky Mist revenue from operations stood at Rs 2,349 crore in 2025 financial year, with the south Indian market accounting for 71% of its revenue. Its profit stood at Rs 46 crore, up from Rs 19 crore last year. Its EBITA margin stood at 13.2% in FY25. The company's new product launches contributed Rs 511 crore to revenue in FY25 alone. About 75.4% of revenue comes from daily consumption products like paneer, curd, yogurt, ghee and butter. JM Financial Limited, Axis Capital Limited and IIFL Capital Services Limited are the book running lead managers to the issue. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Summer's best stretch of weather yet arriving across Maryland
Summer's best stretch of weather yet arriving across Maryland

CBS News

time2 days ago

  • Climate
  • CBS News

Summer's best stretch of weather yet arriving across Maryland

After a exhausting stretch of intense heat, miserable humidity, and powerful storms this summer, we're about to enjoy the nicest weather of the season so far. The combination of low humidity, plenty of sunshine, and comfortably warm temperatures will lead to spectacular outdoor weather now through Wednesday. We will remain storm-free, so rain will not dampen any outdoor activities or work through Thursday. Dangerous levels of heat and humidity followed by more powerful storms will return to the area Friday into the upcoming weekend. A well deserved break from the sweltering heat and humidity of this summer is here. Humidity levels continue to fall on this Monday morning as a cold front dips to our south. High pressure will have a firm grip of our weather now through Thursday. This keeps our forecast rain-free, so you can get in any outdoor activities or work without the threat of storms. The weather will be most comfortable today and tomorrow with humidity levels dropping to their lowest levels since the 4th of July. Highs this afternoon with a partly to mostly sunny sky will top out in the middle to upper 80s with a northerly breeze at 10 mph. This evening's weather will be stunning with a mainly clear sky, low humidity, and comfortable temperatures in the 70s. Overnight with a mostly clear sky, temperatures will dip into the lower to middle 60s providing refreshing sleeping weather. Tuesday will be the best weather day of this entire stretch. Expect a mostly sunny sky, low humidity, comfortably warm temperatures, and a light breeze. The weather will be nearly perfect by July standards. Make sure you wear plenty of sun protection as the UV index will be a very high 9. Wednesday will feature more abundant sunshine, warm temperatures, but humidity levels will be on the rise. Highs will top out in the middle to upper 80s. While it will be more muggy, the day still looks very nice to be out and about. Summer heat and humidity will make a return starting Thursday and will continue into the upcoming weekend. Highs Thursday will top out in the lower 90s with moderate levels of humidity. Friday the heat will become more extreme as temperatures soar into the middle to upper 90s with feels like temperatures reach the triple digits. The extreme heat will continue into the weekend. Tropical heat and humidity Saturday and Sunday with heat index values in the triple digits will give way to scattered strong to severe thunderstorms during the afternoon and evening. Any storm this weekend could deliver damaging winds, intense cloud to ground lightning, drenching downpours, and localized flooding. The WJZ First Alert Weather Team has tagged Saturday and Sunday as possible ALERT DAYS due to this one two punch of sweltering heat and humidity and the chance for severe storms.

Tracking storm chances Sunday afternoon in central Indiana
Tracking storm chances Sunday afternoon in central Indiana

Yahoo

time3 days ago

  • Climate
  • Yahoo

Tracking storm chances Sunday afternoon in central Indiana

Good evening and what a night it turned out to be! We saw heavy storms earlier this afternoon, but since the storms have left, the night has been quiet. We will continue mostly quiet conditions the rest of the night, but an isolated shower or storm will be possible in the overnight hours. Lows are expected to fall into the mid-70s and areas of patchy fog will be possible. Storms are expected to return once again tomorrow afternoon, and a few of these storms could produce gusty winds. The main threat will be flash flooding as heavy downpours are expected tomorrow afternoon. Highs will be in the mid 80's. Storms continue into the overnight hours on Sunday and will persist through Monday. Heat will then start to build on Wednesday with a heat index near 100°. This is likely to persist through Friday. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword

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