Innoterra Files DRHP with SEBI for 105 Crore IPO, Plans Expansion of Milk Procurement Network
Swiss agritech group Innoterra AG's Indian arm, Innoterra Limited, has filed its DRHP with SEBI for an IPO comprising a Rs 105 crore fresh issue and an offer for sale of over 70.5 lakh shares. The company plans to use the proceeds from the fresh issue to fund its strategic growth and operational requirements.
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Swiss agritech group Innoterra AG's Indian arm, Innoterra Limited (formerly MilkLane Dairy Services Private Limited), has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The proposed public issue comprises a fresh issue of equity shares worth up to Rs 105 crore and an Offer for Sale (OFS) of 7,055,315 equity shares by existing shareholders Milklane Holding Pte. Ltd. and Mahyco Private Limited.
The company plans to use the proceeds from the fresh issue to fund its strategic growth and operational requirements. Specifically, Rs 10.69 crore is earmarked for capital expenditure to establish new bulk milk collection centres and/or replace bulk milk cooling units at existing centres. Additionally, Rs 54.75 crore will be utilised to meet working capital requirements, while the remainder is intended for unidentified inorganic acquisitions and general corporate purposes.
Innoterra describes itself as a technology-led, asset-light agri-food platform that connects farmers with enterprise customers across multiple agricultural value chains. Its flagship business operates under the MilkLane platform, which procures and supplies aflatoxin-safe and antibiotic-safe raw milk to institutional customers. The company claims to be India's largest B2B milk procurement platform by procurement volume as of December 31, 2025.
Beyond dairy procurement, the company has diversified into cattle nutrition through its MilkLane Aayush brand, offering scientifically formulated feed and nutrition products aimed at improving livestock productivity.
Innoterra also operates the FarmLink platform, which sources and supplies fresh fruits and staple crops. Its consumer-focused portfolio includes premium brands such as Happy Fruits and Amaraah, catering to enterprise buyers across the agri-food value chain.
The company was originally incorporated as MilkLane Dairy Services Private Limited in October 2015. It was renamed Innoterra Private Limited in November 2025 before being converted into a public limited company as Innoterra Limited in June 2026 ahead of the proposed IPO.
The equity shares are proposed to be listed on both the BSE and the National Stock Exchange (NSE). The IPO will be managed by InCred Capital Wealth Portfolio Managers Private Limited, while KFin Technologies Limited has been appointed as the registrar to the issue.
