Orkla India makes modest debut; shares list nearly 3% above IPO price
New Delhi: Orkla India Ltd, the maker of popular brands MTR and Eastern, made a modest market debut on Thursday, listing with gains of nearly 3% over its issue price of ₹730 per share.
On the BSE, the stock opened at ₹751.50, up 2.94%, while on the NSE, it began trading at ₹750.10, a premium of 2.75%. The company’s market capitalisation stood at ₹9,561.85 crore at listing.
The ₹1,667-crore initial public offering (IPO) was subscribed 48.73 times on its final day of bidding last week. Priced in the band of ₹695–₹730 per share, the IPO was a complete offer for sale (OFS) of 2.28 crore shares by existing promoters and shareholders, with no fresh issue component.
Formerly known as MTR Foods, Orkla India is a multi-category food company offering products across spices, ready-to-eat meals, sweets, and breakfast mixes under brands such as MTR, Rasoi Magic, and Eastern.
