Khaitan & Co is advising Milky Mist Dairy Food on its proposed initial public offering wirth INR 2,035 crore comprising a fresh issue of INR 1,785 crore and an offer-for-sale (OFS) of INR 250 crore by promoters Sathishkumar T and Anitha S. Talwar Thakore & Associates and Hogan Lovells are acting as domestic and international counsel to the book running lead managers.
The BRLMs comprise JM Financial, Axis Capital, and IIFL Capital Services.
The company plans to use a large chunk of the proceeds for debt repayment, while portions have been allocated for expansion and modernisation and growing retail refrigeration.
Milky Mist is also considering a pre-IPO fundraise of INR 357 crore, which will reduce the fresh issue size accordingly.
The TT&A capital markets team on the deal is led by partner Abhinav Kumar, and included managing associate Shubham Sancheti, senior associate Indira Satish, associates Abhishek Iyer, Soham Vakil, Anand Kumar and Harsh Shekhar, and paralegal Mihika Ambikar.
The Hogan Lovells capital markets team is being led by India practice head Biswajit Chatterjee, with support from Varun Jetly, Kaustubh George, Aditya Rajput, Suchisubhra Sarkar, Aditya Dsouza, Sanjana Ravjiani, Komal Israni and Purva Mishra.
