The initial public offering (IPO) of Orkla India Ltd opened for subscription today, garnering a modest response with an overall subscription rate of 79 percent.
In terms of investor categories, non-institutional investors (NIIs) led the subscription at 1.53 times, followed by retail investors at 0.90 times, while demand from qualified institutional buyers (QIBs) was notably low at 0.02 times. The employee portion of the offering was significantly oversubscribed, reaching 3.27 times.
IPO Details
The IPO, valued at ₹1,667 crore, consists entirely of an offer-for-sale (OFS) of up to 2.28 crore equity shares, without a fresh issue component. The price band is set between ₹695 and ₹730 per share, with a minimum lot size of 20 shares. The allocation to anchor investors was completed prior to the public subscription, raising approximately ₹500 crore from notable institutional participants.
Listing Date
The IPO opened on October 29, 2025, and will close on October 31, 2025. Orkla India is slated to debut on the stock market on November 6, 2025.
Selling Shareholders
The OFS includes shares being offloaded by promoter Orkla Asia Pacific Pte along with shareholders Navas Meeran and Feroz Meeran. Currently, Orkla Asia Pacific Pte. Ltd and Norwegian industrial investment firm Orkla ASA hold a combined 90 percent stake, while Navas Meeran and Feroz Meeran each possess a 5 percent stake in the company.
About the Company
Orkla India, which was formerly known as MTR Foods, operates as a diversified food company with a substantial presence across various categories. The company’s product range includes spices, ready-to-eat meals, sweets, and breakfast mixes marketed under notable brands such as MTR, Rasoi Magic, and Eastern. Its flagship brands MTR and Eastern primarily drive sales.
Brokerage Views
Brokerages like Mehta Equities, Anand Rathi, Reliance Securities, AUM Capital, and Angel One have expressed optimism regarding the IPO, generally recommending a subscription. Analysts cite that the company’s growth is expected to be propelled by category expansion, extensive pan-India distribution, product innovation, export scaling, and the realization of synergies from its consolidated brand portfolio, all within a debt-free, high-return framework.
Although Orkla India possesses a robust portfolio of legacy food brands and benefits from a growing market for packaged foods, the lukewarm initial response has raised some concerns regarding its valuation.
Published on October 29, 2025
