Orkla India Sets IPO Price Band, Targets $1.14 Billion Valuation

Orkla India, the parent company of popular ready-to-eat brand MTR Foods, has announced a price band of ₹695 to ₹730 per share for its upcoming initial public offering (IPO), aiming for a valuation of up to ₹100 billion ($1.14 billion) at the upper end, according to Reuters calculations. The IPO for retail investors will open on October 29, while anchor investors can submit bids a day earlier, on October 28. The offering does not involve a fresh issuance of shares, with existing shareholders selling stakes instead.

Orkla Asia Pacific, one of the company’s largest shareholders and part of the promoters group, will sell 20.6 million shares in the IPO. Other existing shareholders, including Navas Meeran and Feroz Meeran, chairman and vice chairman of the Meeran Group, will each sell 1.1 million shares. Orkla India’s portfolio includes brands such as MTR, Eastern, Rasoi Mix, and Laban jelly-candy, which span packaged foods, condiments, and ready-to-eat meals.

The company reported a consolidated profit of ₹2.56 billion in the financial year ending March 2025, up 13% year-on-year, while revenue grew 1.6% to ₹23.95 billion. Orkla India competes in the Indian consumer goods space with listed rivals like Tata Consumer Products and Dabur India. Analysts see the IPO as a key opportunity for investors to gain exposure to a leading branded food player in India’s fast-growing packaged foods market.

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