The highly anticipated initial public offering (IPO) of Orkla India Ltd opened for subscription today, but the pace of bids remains tepid.
The issue was subscribed just 37 per cent overall at 12.09 pm. Within the category breakdown, non-institutional investors (NIIs) had bid 0.56 times and retail investors were at 0.49 times. Qualified institutional buyers (QIBs) had not placed yet. The employee reserved portion has attracted bids of 2.04 times.
IPO details
The ₹1,667 crore IPO is entirely an offer-for-sale (OFS) of up to 2.28 crore equity shares, without fresh issue component. The price band has been fixed at ₹695 to ₹730 per share, with a lot size of 20 shares. The anchor investor allocation was completed ahead of the public subscription, raising about ₹500 crore from marquee investors.
Listing date
The IPO, which opened on October 29, 2025, will conclude on October 31, 2025. Orkla India is scheduled to make its stock market debut on November 6.
Selling shareholders
Under the OFS, promoter Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran are offloading shares.
Orkla Asia Pacific Pte. Ltd and Norwegian industrial investment company Orkla ASA hold 90 per cent stake at present, while Navas Meeran and Feroz Meeran own 5 per cent stake each in the company.
About the company
Orkla India, formerly known as MTR Foods, is a diversified food company with a strong presence across multiple categories. It has wide range of products including spices and masalas, ready-to-eat meals, sweets, and breakfast mixes, marketed under brands such as MTR, Rasoi Magic, and Eastern. The company’s offerings are primarily sold under its flagship brands MTR and Eastern.
Brokerage views
Brokerages including Mehta Equities, Anand Rathi, Reliance Securities, AUM Capital and Angel One, have largely been optimistic on the IPO, recommeding subscribe. They believe that the company’s growth will be driven by category expansion, pan-India distribution, product innovation, export scaling, and synergy realisation from its consolidated brand portfolio under a debt-free, high-return structure.
While Orkla India’s strong portfolio of heritage food brands and exposure to a growing packaged foods market make it a compelling long-term story, the tepid first-day response reflects valuation concerns.