Orkla India's IPO Set to Dazzle Stock Exchanges

Orkla India's much-anticipated Initial Public Offering (IPO) is set to launch with a price range of Rs 695-730 per share. The company aims to achieve a valuation of Rs 10,000 crore at the upper range.

The IPO, totaling Rs 1,667 crore, will open for public subscription from October 29 to October 31. Notably, this is a complete Offer For Sale (OFS) involving the offloading of 2.28 crore equity shares by the promoter and other shareholders, with no fresh issue component. Key stakeholders involved in the OFS include Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran.

Currently, Orkla Asia Pacific Pte and Orkla ASA hold a 90 per cent stake in the company, with Navas Meeran and Feroz Meeran each holding 5 per cent. Since it's an OFS, the proceeds will not flow to the company, but to the selling shareholders instead. The company will debut on stock exchanges on November 6, with ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company as the lead managers.