The Initial Public Offering (IPO) of Orkla India has garnered significant investor interest, with the issue being oversubscribed 48.73 times. This overwhelming response highlights the strong demand for the company's shares in the primary market.

Subscription Details

The IPO, which aimed to raise Rs 1,667.54 crore, saw bids for 77.97 crore shares against the 1.6 crore shares on offer. Here's a breakdown of the subscription across different investor categories:

IPO Allotment and Listing Schedule

Investors who participated in the Orkla India IPO should note the following important dates:

Checking Allotment Status

Investors can check their allotment status on the following platforms:

• National Stock Exchange (NSE) website
• Bombay Stock Exchange (BSE) website
• Kfin Technologies (Registrar to the Issue) website

Grey Market Premium

The grey market is showing a positive sentiment towards Orkla India shares:

About Orkla India

Orkla India, incorporated in 1996, is a player in the food products industry. The company specializes in spices and operates through brands such as MTR Foods, Eastern Condiments, and Rasoi Magic.

IPO Structure

The Rs 1,667.54 crore IPO was structured as a complete offer-for-sale (OFS) of 2.28 crore equity shares, allowing existing shareholders to sell their stakes.

Investors should note that while the IPO has received a strong response, market conditions and company performance will ultimately determine the stock's performance post-listing.

Orkla India Ltd., a multi-category food business, has successfully raised Rs 499.60 crore from anchor investors as it prepares to launch its Initial Public Offering (IPO). This development marks a significant step in the company's journey towards going public.

Anchor Investment Details

The company allotted 68.43 lakh shares to 30 anchor investors at Rs 730 per share. Here's a breakdown of the key investors and their allocations:

Notably, six domestic mutual funds, through 13 schemes, collectively secured 42.40% of the anchor portion, indicating strong interest from institutional investors.

IPO Structure and Timeline

The IPO is structured as an Offer for Sale (OFS), with the following key points:

• Subscription Period: October 29 to October 31
• Sellers: Promoter Orkla Asia Pacific and shareholders Navas Meeran and Feroz Meeran
• Proceeds: The company will not receive any proceeds as it is an OFS structure
• Expected Promoter Gain: Rs 1,500 crore

Company Overview

Orkla India operates a diverse food business portfolio with several well-known brands:

• MTR
• Rasoi Magic
• Eastern

The company boasts an extensive product range of over 400 items and a robust distribution network:

This network spans 28 states and five union territories, showcasing the company's strong presence across India.

Market Implications

The successful raising of funds from anchor investors, particularly the significant participation of domestic mutual funds, suggests a positive sentiment towards Orkla India's IPO. This could potentially set a favorable tone for the public offering.

Investors should note that as an OFS, the proceeds will go to the selling shareholders rather than the company itself. This structure implies that the IPO is primarily a liquidity event for existing shareholders rather than a capital-raising exercise for the company's growth initiatives.

As the IPO approaches, market participants will be keenly watching the public response and the performance of Orkla India's shares in the secondary market post-listing. The food industry's growth prospects and Orkla India's established brand presence could be factors influencing investor interest in this offering.