Orkla India's IPO: A Flavorful Market Debut

Orkla India, synonymous with the popular spices and condiments brands MTR and Eastern, revealed on Tuesday that it successfully secured approximately Rs 500 crore from anchor investors. This significant move precedes its much-anticipated initial public offering (IPO) set to commence on October 29.

The strategic allotment of shares attracted a diverse array of institutional investors, noted in a circular on the BSE website. Key investors include Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, and LIC Mutual Fund among others, contributing to a robust financing yield.

Orkla India's IPO, valued at Rs 1,667 crore, is an offer for sale of 2.28 crore shares by current promoters, notably Orkla Asia Pacific Pte and stakeholders Navas Meeran and Feroz Meeran. The complete allotment is slated to debut on stock exchanges on November 6, with the company aiming for a significant valuation in the market.