Orkla’s Indian unit will launch its initial public offering (IPO) next week after securing regulatory clearance to list its equity shares on domestic exchanges.
The Norway-headquartered CPG group said the offer window for the shares from its Indian subsidiary will run from 29-31 October. So-called anchor investors will be submitting bids on 28 October.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Orkla has set the IPO price band at Rs695 ($7.9) to Rs730 per share, according to a statement issued today (24 October).
The offer, as outlined in the red herring prospectus (RHP), is for the sale of up to 22.8 million shares by the group’s subsidiary Orkla Asia Pacific and other shareholders.
Orkla Asia Pacific plans to sell up to 20.5 million shares, or around 90% of the total offered.
According to the RHP, Orkla India, which trades as MTR Foods, will not receive any proceeds from the sale.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataOrkla India operates in the spices and convenience foods categories under the MTR and Eastern brands, covering products for breakfast, lunch, and dinner, along with beverages and desserts.
Spices accounted for 66.3% of the company’s revenue in the quarter to 30 June and 66.6% in fiscal 2025, the RHP document shows.
In value terms, spice sales were Rs3.89bn in the June 2025 quarter; annual sales were Rs15.71bn in fiscal 2025 and Rs15.91bn in fiscal 2024.
Convenience foods contributed 33.7% of revenue in the quarter and 33.4% in fiscal 2025, compared with 31.5% in 2024.
Orkla acquired Bengaluru-based MTR Foods in 2007. MTR Foods subsequently bought Eastern Condiments in 2020.
Subject to final listing and trading approvals, Orkla India’s shares are expected to begin trading on or about 6 November.
