Orkla India's IPO Sees Massive Over-Subscription, Set for Stock Market Debut

Orkla India's Initial Public Offering (IPO) was overwhelmed with interest, receiving 48.73 times more subscriptions than the number of shares available on the sale's final day. The company was keen to capitalize on market dynamics with its IPO, aiming for a valuation near Rs 10,000 crore.

Among the subscribers, Qualified Institutional Buyers (QIBs) showed remarkable interest with subscriptions at 117.63 times. Non-institutional investors also showed strong demand, registering 54.42 times subscription, while Retail Individual Investors (RIIs) oversubscribed by 7.05 times.

The IPO is a complete offer for sale, featuring 2.28 crore equity shares from promoters and shareholders, meaning no new capital will be raised. Orkla India, recognized for brands like MTR, seeks to solidify its financial footing as it prepares to list on the stock exchanges on November 6. Leading the IPO are major financial entities ICICI Securities, Citigroup Global Markets India, J P Morgan India, and Kotak Mahindra Capital Company.