Orkla India's IPO: Spicing Up the Market Listing
Orkla India, owner of spice brands MTR and Eastern, has filed for an IPO with Sebi. The offering is an OFS of 2.28 crore equity shares. Promoters will not receive proceeds but divest their stakes. The Indian packaged food market is rapidly growing, as highlighted by recent market figures.
- Country:
- India
Orkla India, known for its popular spice brands MTR and Eastern, has officially filed preliminary documents for an initial public offering with the Securities and Exchange Board of India (Sebi).
The company's public listing will comprise an offer for sale of 2.28 crore equity shares by promoters and other shareholders. The primary stakeholders, Orkla Asia Pacific Pte and Norwegian company Orkla ASA, currently hold a 90% stake, while Navas Meeran and Feroz Meeran each own 5%.
The IPO is structured to entirely benefit selling shareholders as Orkla receives no IPO proceeds. The Indian packaged food sector, valued at Rs 10.18 lakh crore in FY24, reflects robust growth, setting a promising context for Orkla India's market entry.
(With inputs from agencies.)
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