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Dairy products maker Milky Mist Dairy Food Ltd on Thursday fixed a price band of ₹133-140 per share for its ₹1,553 crore initial public offering (IPO), which will open for subscription on August 11.

The Erode-based company’s IPO comprises a fresh issue of equity shares aggregating up to ₹1,428 crore and an Offer For Sale (OFS) of up to ₹125 crore, taking the total issue size to ₹1,553 crore.

K. Rathnam, Chief Executive Officer of Milky Mist, told The Hindu on Thursday that part of the funds to be raised from the IPO would go towards closing its debts and the rest would be used for investments.

Singapore sovereign fund Temasek invested ₹482 crore in the 27-year old company in May this year, taking a 5 % stake.

The company, which makes paneer and curd to chocolates and ice creams at its plant in Perundurai registered ₹3,200 crore turnover in FY26. It has seen a 30% topline growth in the last three to four years, according to Rathnam.

The company also plans to expand its cold-chain infrastructure by deploying visi coolers, ice cream freezers and chocolate coolers, besides using a portion of the proceeds for general corporate purposes.

The company — whose sub brands include Capella, Asal, Smartchef, and Briyas. — has reserved 50% of the offer for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.