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WestBridge closes in on Milky Mist funding at Rs 7000 cr valuation

India-focussed investment fund WestBridge Capital is in the final stage of closing a deal to acquire a minority stake worth Rs 800 crore in Tamil Nadu-based dairy products brand Milky Mist.

Deal Details: WestBridge is likely to have valued the company at about Rs 7,000 crore, three people in the know told us. The fund which manages more than $8 billion in assets, had been focusing on investments in the new-age tech space over the past few years. But with a tech turbulent market prevailing, the fund is deploying capital in public markets and scouting for more predictable private businesses.

WestBridge closes in on Milky Mist funding at Rs 7000 cr valuation - Dairy News 7X7
WestBridge closes in on Milky Mist funding at Rs 7000 cr valuation 2

Milky Mist numbers: Milky Mist posted sales of around Rs 1,450 crore for the year ending March 31, 2023, rising 42% over the previous year. In FY22, the company reported sales of Rs 1,012 crore with a net profit of Rs 32 crore. Industry experts said, the company has been reporting an operating profitability of about 15% over the last three financial years.

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