MTR Foods-parent Orkla India IPO open on Oct 29; check price band, issue size & more

Orkla India, known for its MTR and Eastern brands, is launching its initial public offering on October 29 with a price band set between Rs 695 and Rs 730 per share. The offering is an offer for sale of 22,843,004 shares amounting to Rs 1,667 crore and closes on October 31. The lot size is 20 shares and investments must be made in multiples thereof.

The final post-money valuation is estimated at around Rs 10,000 crore at the upper end of the price range. Bid allocations are split with 50% reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. ICICI Securities, JP Morgan India, Kotak Mahindra Capital Company, and Citigroup Global Markets India are the book running lead managers, and KFin Technologies acts as registrar.

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. Anchor investor bidding opens on 28 October.

Orkla India is a multi-category Indian food company and was among the top four in revenue in the spices and convenience food segment in fiscal 2024, according to a Technopak Report. 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.

The offer facilitates a partial exit for existing shareholders and does not involve any capital infusion into the company. The Rs 1,667.54 crore transaction is routed to the selling promoters and shareholders, leaving the business operations and capital structure unchanged post-listing.