Overview
- The market regulator approved IPO plans for Milky Mist Dairy Food, Curefoods India, Steamhouse India, Gaja Capital and Kanodia Cement, while placing Sterlite Electric’s proposal on hold without giving a reason.
- Milky Mist received clearance for a Rs 2,035 crore issue comprising a Rs 1,785 crore fresh sale and a Rs 250 crore offer for sale by promoters T. Sathish Kumar and Anita Kumar.
- Proceeds at Milky Mist are earmarked for debt repayment and capacity expansion at its Perundurai facility, including new whey protein concentrate, yogurt and cream cheese units, with JM Financial, Axis Capital and IIFL as lead managers.
- Steamhouse India and Gaja Capital used the confidential pre-filing route for their offers, with Steamhouse expected to seek about Rs 500–700 crore, according to sources.
- Kanodia Cement’s planned listing is a pure offer for sale of 1.49 crore shares, so the company will not receive any funds from the issue.