Milky Mist Dairy Food Ltd has announced plans to invest Rs 1,130 crore in setting up a large milk processing and dairy products manufacturing facility in the state of Maharashtra as part of its next phase of expansion.
In a statement issued on Friday, the company said it has signed a memorandum of understanding (MoU) with the Government of Maharashtra for the project.
MoU Signed at Davos Meet
The agreement was formalised during the annual meeting of the World Economic Forum in Davos, in the presence of Maharashtra Chief Minister Devendra Fadnavis.
Under the MoU, Milky Mist will establish a milk processing plant with an initial capacity of 10 lakh litres per day, which can later be expanded to 25 lakh litres per day. The facility is proposed to come up on 48.15 acres of land to be allotted by the Maharashtra Industrial Development Corporation (MIDC).
“The total project investment is estimated at Rs 1,130 crore and is expected to generate direct employment for about 800 people,” the company said.
IPO Plans and Existing Operations
The dairy major has also filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) to raise around Rs 2,000 crore through an initial public offering (IPO).
Milky Mist currently operates a fully automated processing facility in Perundurai near Erode in Tamil Nadu, which serves as the backbone of its existing production network.
The proposed Maharashtra plant is expected to significantly strengthen the company’s national footprint, enhance supply-chain efficiency, and support growing demand for packaged dairy products across western and central India.
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