by Suman Gupta
MUMBAI, 24th OCTOBER, 2025 – Orkla India Limited the parent of brand MTR, has set a price band of Rs 695 to Rs 730 per equity share of the face value of Rs 1 for its Rs 1,667 crore IPO. The IPO is an offer for sale by promoters Orkla Asia Pacific, Navas Meeran, and Feroz Meeran.The Orkla India IPO is scheduled to Open for Subscription on Wednesday, October 29, and will close on Friday, October 31. The allocation to anchor investors for the Orkla India IPO is scheduled to take place on Tuesday, October 28.
The IPO is a pure offer for sale by Orkla Asia Pacific Pte Ltd and other shareholders, including Navas Meeran and Feroz Meeran, who are offloading their stakes. With no fresh issue component, all proceeds will go to the selling shareholders.The Offer for Sale (OFS) is of 22,843,004 shares amounting to Rs 1,667 crore.The final post-money valuation is estimated at around Rs 10,000 crore at the upper end of the price range.
The floor price is 695 times the face value bearing the equity shares and the cap price is 730 times the face value of the equity shares. The Orkla India IPO lot size is 20 equity shares and in multiples of 20 equity shares thereafter. Fifty percent of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and the remaining 35% has been reserved for retail investors.
The Indian packaged food market was estimated at Rs 10,180 billion in fiscal 2024, reflecting a CAGR of 10.8% compared to fiscal 2019.Orkla operates across breakfast, lunch, snacks, dinner, beverages, and desserts segments. The key product categories it offers are spices and convenience foods under its MTR and Eastern brands. Spices contribute 67% of revenue, while convenience foods contribute 33%.Its portfolio, spanning about 400 items as of June 2025, includes spices such as sambar masala, puliogare masala, and pure spices like chilli and turmeric, along with convenience foods like Gulab Jamun mix and 3-Minute Poha.
Orkla India received the Sebi nod for the IPO on September 15 and had filed its draft red herring prospectus (DRHP) earlier in July.Orkla entered India in 2007 by buying MTR Foods and, five years later it acquired Kerala-based spice maker Eastern Condiments. Then in 2023, the firm restructured its Indian operations, consolidating its three business units—MTR, Eastern and international business — into a single entity named Orkla India.At one time, Orkla held as much as a 40 per cent stake in Carlsberg Breweries and later sold it.
The promoters — Orkla Asia Pacific Pte Ltd and Orkla ASA — collectively hold a 90 per cent stake in the company. Navas Meeran and Feroz Meeran hold 5 per cent stake each.The company posted revenues of Rs 2,455 crore with a profit after tax of Rs 255.7 crore in the financial year ending March 2025. The previous fiscal year (FY24) saw revenues of Rs 2,388 crore and PAT of Rs 226.3 crore.
ICICI Securities, JP Morgan India, Kotak Mahindra Capital Company, and Citigroup Global Markets India are the Book Running Lead Managers (BRLMs), and KFin Technologies acts as the sole registrar to the Issue.
