Shares of Orkla India Ltd, which owns spices and condiments brands MTR and Eastern, on Thursday listed with a premium of nearly 3 % against the issue price of ₹ 730.
The stock started trading at ₹ 751.50, up 2.94 % from the issue price on the BSE.
At the NSE, it listed at ₹ 750.10, a premium of 2.75 %.
The company's market valuation stood at ₹ 9,561.85 crore.
The initial public offer of Orkla India Ltd got subscribed 48.73 times on the final day of bidding on Friday last week.
The ₹ 1,667-crore IPO had a price band of ₹ 695 to ₹ 730 per share.
The company's IPO was a complete offer for sale (OFS) of 2.28 crore equity shares by promoter and other shareholders, with no fresh issue component.
Orkla India, formerly known as MTR Foods, is a multi-category Indian food company. It manufactures products as spices, ready-to-eat sweets and breakfast mixes, under prominent brands such as MTR, Rasoi Magic, and Eastern.
