Temasek arm Jongsong Investments Backs Milky Mist Pre-IPO
Company Raises ~₹482 Crore at ₹139.76 per Share
POSTED BY : MRUNALI SAKPAL DT. 03/05/2026 📞 8850212023
MUMBAI : RMI.COM(M) Milky Mist Dairy Food Limited has raised approximately ₹482 crore in a pre-IPO round anchored by Jongsong Investments Pte. Ltd., an indirect wholly-owned subsidiary of Singapore-based investment firm Temasek Holdings, according to its public announcement.
The fundraise comprises a primary capital infusion of ~₹357 crore and a secondary share sale of ~₹125 crore ahead of the company’s proposed initial public offering (IPO).
As part of the primary issuance, Milky Mist allotted 5,43,789 equity shares at ₹139.76 per share, aggregating to about ₹7.6 crore. In addition, the company issued 25,00,000 compulsorily convertible preference shares (CCPS) at the same price, raising approximately ₹349.4 crore. These CCPS will convert into equity shares on a 1:1 basis prior to listing.
The entire primary investment was led by Jongsong Investments, marking a significant institutional endorsement from Temasek, one of the world’s leading long-term investors.
Alongside the capital raise, promoters Sathishkumar T and Anitha S sold 89,43,903 equity shares at ₹139.76 per share, aggregating to roughly ₹125 crore, as part of a secondary transaction.
