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Amul, a household name known for products ranging from milk to butter and curd, is more than just a brand, it’s a symbol of strength and pride for millions of farmers in India. Despite its significant market presence, Amul, will never be listed on the stock market.

Unlike Dodla Dairy and Milky Mist Dairy Food, which are planning IPOs, Amul’s unique cooperative structure prevents it from launching its own IPO.

Amul is a cooperative society, not a typical corporation. Its ownership lies with over 3 million small farmers from Gujarat, not big industrialists. The organisation, known as the Gujarat Cooperative Milk Marketing Federation (GCMMF), benefits from a decentralised structure where each village has a milk collection centre managed by local villagers.

Farmers

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