Orkla India IPO Day 2 Highlights: The initial public offering (IPO) of Orkla India Ltd entered its second day of bidding today. The company’s ₹1,667 crore public issue, which closes on October 31, is a complete offer for sale (OFS) of 2.28 crore equity shares by the promoter and other shareholders. It has no fresh issue component.
Orkla India IPO price band has been set at ₹695– ₹730 per share.
Under the OFS, promoter Orkla Asia Pacific Pte Ltd and shareholders Navas Meeran and Feroz Meeran are divesting their stakes. Currently, Orkla Asia Pacific Pte Ltd and Orkla ASA together hold 90%, while the Meeran brothers own 5% each.
Since it is a pure OFS, the proceeds will go entirely to the selling shareholders, with no funds flowing to the company.
The company received 78% subscription on the first day of bidding, held on Wednesday.
On Tuesday, Orkla India raised around ₹500 crore from anchor investors ahead of the IPO.
About Orkla India
Formerly known as MTR Foods, Orkla India is a leading Indian packaged food company operating across multiple categories, including spices, ready-to-eat meals, sweets, and breakfast mixes, sold under well-known brands like MTR, Rasoi Magic, and Eastern.
The company’s shares are scheduled to list on the stock exchanges on November 6.
