Norway-listed industrial investment company Orkla ASA-backed Orkla India, the parent company of MTR and Eastern spices brand, has filed Red Herring Prospectus (RHP) with the Registrar of Companies on October 23 to open its initial share sale for public subscription next week on October 29.
The initial public offering (IPO) is entirely an offer-for-sale of 2.28 crore equity shares by promoter Orkla Asia Pacific, and other shareholders - Navas Meeran and Feroz Meeran.
The company has also reserved up to 30,000 equity shares for its employees, excluding which it is a net offer-for-sale the public.
Moneycontrol was the first to report on Thursday that Orkla India is gearing up to launch its IPO between October 29 and October 31.
Hence, the entire IPO proceeds (excluding offer expenses) will be received by the selling shareholders, and the company will not get any money from the issue.
The IPO anchor book will be opened for a day on October 28, while the offer for the public will remain open till October 31. The company will finalise IPO share allotment by November 3, while the Orkla India shares will start trading on the bourses effective November 6.
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Promoter - Orkla Asia Pacific - holds 89.54 percent stake in Orkla India, while other shareholders -including Navas Meeran and Feroz Meeran - have 10.46 percent shareholding in the company.
Orkla India, which offers spices and convenience foods (ready-to-cook, and ready-to-eat) under the brands MTR and Eastern, has a portfolio of 400 products across these categories with strong presence in Karnataka, Kerala, Andhra Pradesh and Telangana.
Orkla India that competes with listed peer Tata Consumer Products has recorded decent financial performance in the recent past periods. Profit in the quarter ended June 2025 stood at Rs 78.9 crore, growing 9.8 percent compared to Rs 71.9 crore in same period last year. Revenue during the same period increased by 6 percent to Rs 597 crore, up from Rs 563.5 crore.
Profit in the fiscal year 2025 soared 13 percent to Rs 255.7 crore, and revenue rose 1.6 percent to Rs 2,394.7 crore compared to previous fiscal.
The merchant bankers handling the Orkla India IPO are ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company, while KFin Technologies is acting as the registrar to the offer.
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