Tamil Nadu-based dairy major Milky Mist, the well-known brand from Erode, has received SEBI's approval to launch its ₹2,035-crore IPO, Moneycontrol reported. The IPO will comprise ₹1,785-crore fresh issue and ₹250 crore offer-for-sale by promoters Sathishkumar T and Anitha S. Proceeds from the listing will go toward reducing around ₹750 crore of the company's ₹1,463 crore total debt.