Orkla India IPO: A Spiced-Up Stock Market Debut

Orkla India Ltd, known for its prominent food brands MTR and Eastern, launched its initial public offering (IPO) to eager investors on Wednesday. The offering witnessed a 78 percent subscription rate on the first day itself, signaling strong market interest.

The IPO, valued at Rs 1,667 crore, is entirely a sale by existing shareholders, meaning that Orkla India itself will not see any direct financial infusions from this public debut. The price band for this offering has been set between Rs 695 and Rs 730 per share, which could drive the company's evaluation to approximately Rs 10,000 crore at its peak.

Receiving bids for 1,25,56,940 shares against the offered 1,59,99,104 shares, the IPO will close on October 31. Orkla India is scheduled to make its stock market debut on November 6, drawing attention as a key player in the multi-category food industry.