The ₹1,667 crore initial public offering (IPO) of Orkla India Ltd, the company behind popular spice and condiment brands MTR and Eastern, closed for bidding on Friday with strong investor participation across categories.
Subscription Status
By the end of the final bidding day, the Orkla India IPO received bids for 77.96 crore shares against 1.60 crore shares on offer, translating into an overall subscription of 48.73 times.
- Qualified Institutional Buyers (QIBs): 117.63 times
- Non-Institutional Investors (NIIs): 54.42 times
- Retail Investors: 7.05 times
- Employee Category: 15.13 times
Grey Market Premium (GMP)
The Orkla India IPO GMP surged to ₹86 on Friday, suggesting that the stock may list at around ₹816 per share, an 11.78% premium over the upper price band of ₹730.
However, analysts caution that GMP trends are speculative and subject to change, and should not be the sole basis for investment decisions.
Issue Structure and Details
The Orkla India IPO was a complete offer for sale (OFS) of 2.28 crore shares, with proceeds going to the selling shareholders, including promoter Orkla Asia Pacific Pte and individual shareholders Navas Meeran and Feroz Meeran.
The price band was fixed at ₹695–₹730 per share, valuing Orkla India at approximately ₹10,000 crore at the upper end. Investors could bid in lots of 20 shares and in multiples thereof.
ICICI Securities, Citi, JP Morgan, and Kotak Mahindra Capital acted as the book-running lead managers, while KFin Technologies served as the registrar to the issue.
Next Steps
Following the close of bidding, investor attention now turns to the share allotment, which is expected to be finalized on Monday, November 3, 2025, with the listing likely on Wednesday, November 6, 2025, on both the BSE and NSE.
About Orkla India
Orkla India is a diversified food company offering products across categories including spices, condiments, convenience foods, beverages, snacks, and desserts, catering to a wide range of Indian meal occasions.
