Daijiworld Media Network - Mumbai

Mumbai, Nov 6: Shares of Orkla India Limited made a modest debut on the stock exchanges on Wednesday, opening at Rs 751.50 on the BSE — a 3% premium over its issue price of Rs 730. On the NSE, the stock listed at Rs 750.10 per share, marking a similar gain.

The IPO, which saw robust investor interest, had its allotment finalised on November 3. Market watchers are now closely tracking the stock’s post-listing performance amid strong sentiment for consumer-focused companies.

The Rs 1,667.54 crore public issue was open for subscription from October 29 to 31 and was oversubscribed 48.73 times. The issue received bids for over 77.9 crore shares against the 1.59 crore shares available, reflecting healthy demand across investor categories.

Priced in the range of Rs 695–730 per share, the IPO was a pure offer for sale (OFS). Hence, the company will not receive any fresh capital from the issue; proceeds will go entirely to the selling shareholders after taxes and related expenses.

Orkla India, the parent company behind popular Indian food brand MTR Foods, is a subsidiary of Norway-based Orkla ASA. The company holds a strong presence in the packaged food segment with a diverse portfolio that includes spices, ready-to-eat meals, breakfast mixes, and sweets under brands such as MTR, Eastern, and Rasoi Magic.

The company’s operations are divided into three verticals — MTR, Eastern, and International Business — with products exported to over 40 countries worldwide.

Analysts said Orkla India’s strong brand recall and expanding global footprint could support its long-term growth, though valuations remain a key factor to watch in the near term.