Orkla’s India unit IPO opens next week

Core Viewpoint - Orkla's Indian subsidiary is set to launch its initial public offering (IPO) next week after receiving regulatory approval, with the offer window scheduled from October 29 to October 31, and anchor investors submitting bids on October 28 [1]. Group 1: IPO Details - The IPO will involve the sale of up to 22.8 million shares, with Orkla Asia Pacific planning to sell approximately 20.5 million shares, representing around 90% of the total offered [2]. - The price band for the IPO is set between Rs695 ($7.9) and Rs730 per share [1]. Group 2: Company Operations - Orkla India operates in the spices and convenience foods sectors under the MTR and Eastern brands, offering a range of products for meals and beverages [3]. - In the quarter ending June 30, spices accounted for 66.3% of Orkla India's revenue, with spice sales valued at Rs3.89 billion for that quarter and annual sales of Rs15.71 billion for fiscal 2025 [3]. - Convenience foods contributed 33.7% of revenue in the same quarter, showing an increase from 31.5% in fiscal 2024 [4]. Group 3: Historical Context - Orkla acquired MTR Foods in 2007, which later purchased Eastern Condiments in 2020 [4]. - Subject to final approvals, trading of Orkla India's shares is expected to commence around November 6 [4].