Outlook Business Desk
Orkla India, parent company of Mavalli Tiffin Room (MTR) Foods, has set the Initial Public Offering (IPO) price band between ₹695 and ₹730 per equity share.
The mainboard offering is entirely an offer for sale (OFS) of 22.8 million equity shares worth ₹1,667.54 crore. Promoter Orkla Asia Pacific, along with Navas Meeran and Feroz Meeran, are selling part of there shareholding.
According to Orkla India's red herring prospectus (RHP), up to 50% of the issue is reserved for qualified institutional buyers (QIBs), at least 35% for retail investors, and no less than 15% for non-institutional investors (NIIs).
Orkla India IPO opens on Wednesday next week (October 29, 2025) and closes on Friday (October 31, 2025). The anchor investors can bid for shares on October 28. The basis of allotment is expected on November 5, with tentative listing on NSE and BSE on November 6.
Each IPO application will be for a lot of 20 shares. Retail investors need a minimum investment of ₹14,600 at the upper end of the price band to apply for one lot.
The book-running lead managers include ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company. Kfin Technologies has been appointed as the registrar for the Orkla India IPO.
As per RHP, Orkla India will not receive any proceeds from the IPO. All offer proceeds will go to the selling shareholders after deduction of offer-related expenses and applicable taxes.
Founded in 1996, Orkla India is a multi-category food company with brands like MTR Foods, Eastern Condiments and Rasoi Magic, offering products across meals, snacks, beverages, and desserts, with key Spices and Convenience Foods.
Orkla India has a strong presence in Karnataka, Kerala, Andhra Pradesh, and Telangana, and exports to around 42 countries including the GCC nations, the US, and Canada. As of March 31, 2025, it operates nine manufacturing facilities with 182,270 TPA capacity.