Orkla India IPO Day 3 LIVE: Last Day To Apply — Issue Subscribed 3.7x; GMP Hints At Nearly 10% Listing Gains

The Orkla India IPO, the much-awaited public issue from the parent company of MTR Foods and Eastern Condiments, has entered its final day of subscription today, Friday, October 31. The ₹1,667 crore IPO continues to see strong investor participation, with the issue subscribed 3.7 times so far.

📈 Orkla India IPO Subscription Status

As of 10:30 AM, the IPO had been subscribed 3.7x overall.

Retail Investors (RII): 2.50x

Non-Institutional Investors (NII): 11.32x

Qualified Institutional Buyers (QIB): 0.07x

The bidding window closes today, marking the last opportunity for investors to apply for shares of the well-known Indian packaged food maker.

💰 IPO Price Band, Size & Key Dates

Price Band: ₹695 – ₹730 per share

Issue Size: ₹1,667.54 crore (entirely Offer for Sale of 2.28 crore shares)

Lot Size: 20 shares

Employee Discount: ₹69 per share

Allotment Date: November 3, 2025

Listing Date: November 6, 2025 (BSE & NSE)

ICICI Securities Ltd is the book-running lead manager, while Kfin Technologies Ltd serves as the IPO registrar.

🍲 About Orkla India

Formerly known as MTR Foods, Orkla India is a leading Indian food company with a diverse product portfolio that includes spices, ready-to-eat meals, breakfast mixes, and sweets. The company operates through popular brands like MTR, Eastern, and Rasoi Magic.

With 834 distributors and 1,888 sub-distributors across 28 states and 6 union territories, the company has an extensive distribution network and strong brand presence, particularly in southern India.

📊 Grey Market Premium (GMP) Today

According to IPO tracking websites, the Orkla India IPO GMP today stands at ₹72 per share, suggesting that the stock is trading around ₹802 in the grey market—a premium of nearly 10% over the upper price band of ₹730.

This indicates positive market sentiment and the potential for healthy listing gains when the stock debuts on November 6.

💬 Analyst Reviews — ‘Subscribe’ For Long-Term Gains

Brokerage houses remain optimistic about the IPO, citing strong fundamentals and growth prospects:

“At the upper band of ₹730, Orkla India is valued at a P/E of around 31.7x (FY26E), which is reasonable compared to peers. The company’s established brand portfolio, robust distribution, and steady cash flows position it well for sustained growth,” said Geojit Investments, assigning a ‘Subscribe’ rating for long-term investors.

Similarly, Choice Broking noted that Orkla’s strong market position, high return ratios, and brand heritage make it a compelling investment opportunity.

🧂 Industry Outlook

India’s spices and convenience food markets are witnessing rapid expansion — the spices market grew at 11.5% CAGR to ₹1.23 trillion in FY24 and is projected to reach ₹2.08 trillion by FY29. The convenience food sector is also expected to double in size by FY29, driven by urbanization, premiumization, and demand for ready-to-eat options.

With its heritage brands and extensive rural-urban presence, Orkla India is strategically positioned to capitalize on these trends.

📅 Key Takeaway

Final day to subscribe: October 31, 2025

GMP premium: ~₹72 (≈10%)

Analyst call: ‘Subscribe’ for long-term investment

Listing date: November 6, 2025