Tamil Nadu-based premium dairy products brand Milky Mist Dairy Food and the Gurugram-based logistics frim Shiprocket are hitting the primary capital markets next week with a combiuned issue size of Rs 3,170.5 crore.
Both the issues are downsized from the initial filing with the Sebi and both the issues are opening from August 11 and 12 respectively, the companies told reporters at their respective roadshows here on Thursday.
While the IPO of Milky Mist, founded by Sathishkumar T and Anitha S, is Rs 1,553 crore comprising fresh issue of Rs 1,428 crore and an offer for sale of up to Rs 125 crore, taking the total issue size to Rs 1,553 crore. Earlier, Milky Mist had planned to mobilise Rs 2,035 crore through its maiden public offering, according to its draft papers. But after a pre-IPO deal with Temasek, the issue has been downsized.
The Milky Mist IPO is poised to be the largest by a domestic dairy company, with a post-issue market valuation of around Rs 10,800 crore and the issue is price at Rs 133-140 and th issue is opens on August 11. Listed peers in the sector include Parag Milk Foods, Hatsun Agro Product and Dodla Dairy.
Milky Mist specialises in value-added dairy products like paneer, cheese, curd, yogurt, butter, ghee and ice cream, among other products and does not operate in the liquid milk segment.
Milky Mist had raised Rs 482 crore in pre-IPO funding for a 5.16% stake in April and May from Jongsong Investments, an indirect wholly-owned subsidiary of Temasek Holdings.
Meanwhile, the Shiprocket management said their Rs 1,617.5 corre issue will open on August 11 at a price band of Rs 92-97. The size of the issue, opening on August 12, is down 30% from the initial filing.
The Temasek-backed e-commerce enablement platform Shiprocket’s issue comprises Rs 885.50 crore in fresh issue and an OFS of Rs 732 crore. As part of the OFS, existing shareholders Lightrock, Tribe Capital, Moore Strategic Ventures, Agility International Investment, Gautam Kapoor, Saahil Goel and Vishesh Khurana will dilute their stakes.
Co-founders Saahil Goel and Gautam Kapoor will each sell shares worth Rs 61 crore, while Vishesh Khurana will offload shares worth Rs 20 crore.
Among institutional investors, Lightrock will be the largest seller, divesting shares worth around Rs 272 crore. Tribe Capital will sell shares worth Rs 120 crore, while March Capital, 500 Global, Agility Global, and Moore Strategic Ventures are also participating in the OFS. However, Bertelsmann Investments and Arvind, which were part of the OFS, will nor be selling their holdings. Bertelsmann India Investments remains Shiprocket's largest shareholder with a 21.3% stake, while Eternal continues to hold 6.85%.
Founded in 2017 by Saahil Goel, Gautam Kapoor, Vishesh Khurana, and Akshay Ghulati, Shiprocket started as a logistics aggregation platform and has since evolved into a full-stack e-commerce enablement company offering shipping, warehousing, checkout, payments, marketing, and cross-border commerce solutions.
Shiprocket has trimmed the IPO size from Rs 2,342.3 crore proposed in its updated draft red herring prospectus filed in December 2025.
A portion of the proceeds will also be used to repay or prepay certain borrowings along with the related interest. Besides, funds will be deployed towards inorganic growth through potential acquisitions and for general corporate purposes.
At the upper end of the price band, Shiprocket will command a post-issue market valuation of about Rs 7,058 crore. Backed by marquee investors such as Temasek and Zomato, Shiprocket has evolved from a shipping service provider into a full-stack e-commerce enablement platform catering to direct-to-consumer brands and micro, small and medium enterprises.