Orkla India, the Indian subsidiary of Norway-based Orkla ASA, is launching a Rs 1,667-crore initial public offering (IPO) with subscriptions opening on October 29. In the grey market, the IPO is trading at a 16% premium to its issue price of Rs 730.
The IPO will be open for three days, closing on Friday, October 31, 2025. It is a pure offer for sale of 2.28 crore equity shares, totaling Rs 1,667.54 crore. No fresh capital is being raised, meaning the proceeds will go entirely to the selling shareholders, mainly the promoter entities — Orkla ASA, Orkla Asia Holdings AS, and Orkla Asia Pacific Pte Ltd.
The shares are expected to be listed on both NSE and BSE, tentatively on November 6, 2025.
Orkla India IPO GMP Today
As of October 27, 2025, the Grey Market Premium (GMP) for the Orkla India IPO was reported at Rs 114. Given the IPO’s price band of Rs 730 per share, this indicates an implied listing price of around Rs 844. In other words, if the stock lists at this price, investors who subscribe to the IPO could potentially see a gain of about 15.6% per share on listing.
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The GMP provides an early indication of market sentiment and potential listing performance, giving investors a sense of how the stock might be received once it hits the exchanges.
Orkla India IPO Overview
Orkla India is launching an offer for sale of 2.28 crore equity shares, totaling Rs 1,667.54 crore. No fresh capital is being raised; the proceeds will go entirely to the selling shareholders, mainly the promoters — Orkla ASA, Orkla Asia Holdings AS, and Orkla Asia Pacific Pte Ltd.The IPO is priced in the Rs 695–730 per share range, with a minimum lot size of 20 shares, meaning retail investors need a minimum investment of Rs 14,600.
Business Snapshot
Orkla India owns well-known consumer brands like MTR Foods, Eastern Condiments, and Rasoi Magic, making it a key player in the Indian packaged foods market. Its products include breakfast mixes, spices, ready-to-eat meals, and beverages.
The company has nine manufacturing facilities in India and leverages contract manufacturing in the UAE, Thailand, and Malaysia. It sells over 2.3 million units daily across 28 states and 6 union territories, exporting to 42 countries.
A category leader in southern India, Orkla is expanding nationally. Its distribution network comprises 834 distributors and 1,888 sub-distributors, ensuring deep regional penetration and robust supply chain control.
Financial Highlights
For FY25, Orkla India recorded a revenue of Rs 2,455 crore, marking a 3% year-on-year increase. The company’s profit after tax (PAT) rose 13% YoY to Rs 256 crore, supported by an EBITDA of Rs 396 crore, reflecting healthy margins of 16.6%. The PAT margin stood at 10.7%, underscoring strong operational efficiency.
Asset-Light & Debt-Free
As of March 2025, the company had negligible debt (Rs 2 crore), making it virtually debt-free. Its ROCE stood at 32.7%, and RoNW at 13.8%, reflecting efficient capital utilization.
Valuation & Market Cap
At the top end of the price band, the IPO values Orkla India at a post-issue P/E of 31.7x and a market capitalization of around Rs 10,000 crore. This is broadly comparable to FMCG peers like Marico and Tata Consumer, though slightly lower than premium players such as Nestle India and Hindustan Unilever.
Growth Drivers in Indian Packaged Foods
Analysts highlight significant long-term potential as demand for packaged foods in India grows, fueled by urbanization and convenience-oriented lifestyles. Orkla’s emphasis on value-added regional brands and category innovation is expected to support sustained growth in the coming years.
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