On November 6, Orkla India shares are anticipated to be placed on public markets. By November 3, the share allocation is probably going to be finalized. Subscriptions for Orkla India’s initial public offering (IPO) will begin today. Bidding on the Rs 1,667-crore issuance will continue till October 31. On October 28, the business used an anchor book to collect Rs 499.6 crore from thirty institutional investors.
Orkla India IPO Launches Today – Know GMP, Price Band, and Expert Views Before Applying
The packaged food companies MTR and Eastern are owned by Orkla India, which has established a price range of Rs 695-730 per share. The valuation is expected to be about Rs 10,000 crore at the top end.
The IPO has received a “Neutral” rating from brokerage SBI Securities. Orkla India is a major participant in the South Indian packaged spices and condiments industry, according to the brokerage, thanks to strong brand memory and consumer preference for MTR and Eastern goods.
It highlighted the business’s broad distribution network, diverse portfolio, and support from its Norwegian parent, Orkla ASA, a significant fast-moving consumer products corporation with operations in more than 100 countries.
Increasing household penetration in core markets, growing its global presence among the Indian diaspora, launching new products, enhancing operational efficiency, and contemplating strategic acquisitions in related categories and new regions were all highlighted by SBI Securities as growth strategies.
Risks include supply chain difficulties, operational problems, supplier concentration, and even legal concerns were also highlighted in the paper.
The current price of Orkla India’s IPO GMP
Market trackers reported that Orkla India shares were trading at a premium of around 12% on the gray market. A grey market premium (GMP) of Rs 88 per share was revealed by data from Investorgain.
Currently, Navas Meeran and Feroz Meeran both share five percent of the firm, while promoters Orkla Asia Pacific Pte. Ltd. and Orkla ASA own ninety percent.
Under the MTR, Eastern, and Rasoi Magic brands, Orkla India, formerly known as MTR Foods, produces spices, masalas, ready-to-eat items, candies, and breakfast mixes.
On November 6, the stock markets are anticipated to list the equity shares. By November 3, the share allocation is probably going to be finalized.
Disclaimer: The experts’ and brokerages’ opinions, recommendations, and suggestions in this article are their own and do not represent the viewpoints of the Business Connect. Before making any actual trading or investing decisions, it is advised to speak with a knowledgeable broker or financial counselor.
