Milky Mist IPO subscribed 70% on Day 1: GMP signals 15% listing gains for investors

The Milky Mist Dairy Food IPO saw 70% subscription of its shares on the first day of opening, with the grey market signalling a potential listing gain of 15%. The latest grey market premium or GMP for the IPO, stands at Rs 161 against the upper price band of Rs 140 as of 3:30 PM. If the premium holds, the estimated listing price for the Milky Mist IPO would be Rs 161.Importantly, the 15% figure is the GMP-implied potential listing gain and not an actual market return, as the shares have not yet been listed.HOW MISTY MILK IPO PERFORMED ON DAY 1The first day saw the retail portion subscribed 0.89 times, making it its best-performing segment. The non-institutional investor (NII) category followed at 0.73 times, while the qualified institutional buyer (QIB) segment, excluding anchor investors, saw subscription of 0.41 times.The company is looking to raise capital through a public issue of 11.09 crore equity shares. Of these, 3.88 crore shares have been reserved for retail investors, while the rest is divided as 5.54 crore for QIBs and 1.66 crore for NIIs. The first-day numbers suggest that investor participation has been cautious, particularly among institutional investors.With none of the categories crossing the 1x mark on the opening day, the IPO is anticipated to need stronger demand in the remaining bidding sessions to achieve full subscription.DOES GMP HINT PROFIT FOR MISTY MILK?While Milky Mist Dairy Food’s IPO saw a decent subscription response on the opening day, grey-market activity is signalling stronger expectations for its stock debut.The IPO’s latest grey-market premium stood at Rs 21 by the end of day one. At the upper end of the IPO’s Rs 140 price band, this means that the current GMP translates into an estimated listing price of Rs 161, implying a potential listing gain of around 15%.The GMP has also been trending upwards, having moved between Rs 0 and Rs 27 over the past seven sessions. As a result, the latest movement suggests that grey-market sentiment has strengthened ahead of the listing, even as the formal subscription numbers remain below full subscription.However, the GMP remains to be an unofficial indicator, which means that it may change before the IPO listing. Therefore, the actual listing price will ultimately depend on demand in the public market and broader market conditions.MISTY MILK IPO DETAILSThe public listing closes for bidding on August 12, with the company looking to raise Rs 1,553 crores from its IPO. This issue includes a fresh issue of 10.20 crore shares, aggregating Rs 1,428 crore. The remaining 0.89 crore shares, valued at Rs 125 crore, are being offered by existing shareholders through an offer for sale (OFS).The IPO has a price band of Rs 133–140 per share, with a minimum lot size of 107 shares. At the upper end of the price band, retail investors will need to invest at least Rs 14,980 to apply for one lot.The company plans to list its shares on the NSE and BSE, with the listing tentatively scheduled for August 18.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsPublished By: Radhika VermaPublished On: Aug 11, 2026 16:36 IST