New Delhi, July 22 -- Milky Mist Dairy Food Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) on Monday, July 21, to raise up to Rs.2,035 crore through an initial public offering (IPO).

The IPO will include a fresh equity issue of Rs.1,785 crore and an offer for sale (OFS) worth Rs.250 crore by the company's promoters.

According to the DRHP, Rs.750 crore from the fresh issue will be used to repay existing debt, while Rs.414 crore will go towards expanding and upgrading the company's Perundurai manufacturing plant, including setting up facilities for whey protein concentrate, yogurt, and cream cheese.

An additional Rs.129 crore is earmarked for the purchase of visi coolers...