Orkla India IPO opens for subscription on tomorrow (Wednesday, October 29). Orkla India, formerly known as MTR Foods, is a multifaceted food company located in India. It produces various products such as spices and masalas, ready-to-eat meals, sweets, and breakfast mixes, which are marketed under popular brands including MTR, Rasoi Magic, and Eastern. Orkla India IPO GMP today is ₹84.
The company’s products are sold under the MTR and Eastern brands. According to a Technopak report, the packaged food market in India was valued at ₹10,180 billion in fiscal 2024, reflecting a compound annual growth rate (CAGR) of 10.8 percent since Fiscal 2019.
As outlined in the red herring prospectus (RHP), the company’s only competitor is Tata Consumer Products Ltd, which has a price-to-earnings (PE) ratio of 90.1.
Here are the 10 key things to know about Orkla India IPO
Orkla India IPO GMP today: Orkla India IPO GMP is +84. This indicates Orkla India share price were trading at a premium of ₹84 in the grey market on Tuesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Orkla India share price was indicated at ₹814 apiece, which is 11.51% higher than the IPO price of ₹730.
‘Grey market premium‘ indicates investors’ readiness to pay more than the issue price.
Orkla India IPO date: The issues opens for subscription on Wednesday, October 29, and closes on Friday, October 31.
Orkla India IPO price band: The issues price band has been fixed in the range of ₹695 to ₹730 per equity share of face value of Re 1.
Orkla India IPO lot size: The IPO lot size is 20 equity shares and in multiples of 20 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Orkla India IPO is scheduled to take place today (Tuesday, October 28).
Orkla India IPO details: The firm’s initial public offering (IPO) consists entirely of an Offer For Sale (OFS) of 2.28 crore equity shares by the promoters and other shareholders, without any fresh equity being issued.
As part of the OFS, promoter Orkla Asia Pacific Pte, along with shareholders Navas Meeran and Feroz Meeran, are selling their shares.
Currently, the promoters, Orkla Asia Pacific Pte Ltd and Norwegian industrial investment company Orkla ASA, possess a 90% stake, while Navas Meeran and Feroz Meeran each hold a 5% stake in the business.
Orkla India IPO objectives: As it is an OFS, the company will not obtain any funds from the IPO, and all the proceeds will go to the shareholders selling their shares.
Orkla India IPO listing date and allotment details: Tentatively, Orkla India IPO basis of allotment of shares will be finalised on Monday, November 3, and the company will initiate refunds on Tuesday, November 4, while the shares will be credited to the demat account of allottees on the same day following refund. Orkla India share price is likely to be listed on BSE and NSE on Thursday, November 6.
Lead Manager and Registrar of Orkla India IPO: ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company serve as the lead managers for the book-running of the issue. Kfin Technologies is the registrar of the issue.
Orkla India IPO reservation: The issue has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved up to 30,000 equity shares.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
