Orkla India IPO Day 1 Highlights: Issue Subscribed 20% So Far; GMP at ₹77 — Should You Invest?
Orkla India IPO opens for subscription at ₹695–₹730 per share; issue subscribed 20% on Day 1. Know GMP, review, allotment dates, anchor investors, and expert advice on whether to subscribe.
Orkla India IPO Day 1: Issue Subscribed 20%, GMP at ₹77 — Subscription Status, Key Dates & Analyst Review
The much-awaited Orkla India IPO, parent company of MTR and Eastern, opened for public subscription today (October 29) and will close on October 31. The price band for the IPO is fixed between ₹695 and ₹730 per share, valuing the company at around ₹10,000 crore at the upper price end. On Day 1, the issue has been subscribed 20% so far, with a grey market premium (GMP) of ₹77, indicating a potential listing price of around ₹807 per share, nearly 10.5% higher than the issue price.
The Orkla India IPO is a pure Offer for Sale (OFS) of 2.28 crore shares by promoters and shareholders — there is no fresh issue component. Promoters Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran are divesting their stakes. Currently, Orkla Asia Pacific Pte and Orkla ASA (Norway) hold a 90% stake, while the Meeran brothers own 5% each. Since the IPO is entirely an OFS, the company will not receive any funds raised; proceeds will go to the selling shareholders.
Formerly known as MTR Foods, Orkla India is a well-known FMCG brand specializing in packaged foods, spices, condiments, sweets, and ready-to-eat meals under labels like MTR, Eastern, and Rasoi Magic. The company operates across 28 states and 6 union territories, supported by 834 distributors, 1,888 sub-distributors, and 42 modern trade and e-commerce partners.
Growth Strategy and Strengths
Orkla India plans to drive household penetration, expand internationally—especially among the Indian diaspora—enhance operational efficiency, and diversify its product portfolio. The company is also exploring strategic acquisitions to enter new markets. Backed by Orkla ASA, a Norwegian FMCG giant operating in over 100 countries, the company has access to Orkla’s Global Centres of Excellence for quality, marketing, and innovation.
Valuation and Analyst View
At the upper price band of ₹730, Orkla India is seeking a P/E of 31.7x based on FY26 annualized earnings. Experts view this valuation as reasonable given its market leadership and brand equity in the Indian packaged food sector. According to Rajan Shinde, Research Analyst at Mehta Equities Ltd, the company’s strong presence in domestic and export markets, coupled with its established brands, makes it a “Subscribe for Long-Term” recommendation.
Anchor Investors and Subscription Details
Ahead of its launch, Orkla India raised ₹499.6 crore from anchor investors, allocating 68.43 lakh shares at ₹730 each. Key participants include Nippon India MF, Aditya Birla Sun Life MF, LIC MF, Baroda BNP Paribas MF, Nomura Funds Ireland, Jupiter India Fund, and Government Pension Fund Global.
The IPO reserves 50% of shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Employees will get an allotment of up to 30,000 shares.
Key Dates and Listing
IPO Open: October 29, 2025
IPO Close: October 31, 2025
Allotment Date: November 3, 2025
Refunds Initiate: November 4, 2025
Listing Date: November 6, 2025 (BSE & NSE)
Lead Managers
The IPO is being managed by ICICI Securities, JP Morgan India, Citigroup Global Markets India, and Kotak Mahindra Capital Company. Kfin Technologies is serving as the registrar.
As of now, the Orkla India IPO is seeing strong investor interest on Day 1, backed by robust parentage, market leadership, and growth potential in India’s expanding packaged food industry.
