Core Insights - The Orkla India IPO has garnered significant interest, being subscribed 2.70 times by the end of Day 2, with strong participation from Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs) [2][6][12] - The grey market premium (GMP) for the IPO is reported at Rs 70, suggesting a potential listing price of around Rs 800, reflecting positive investor sentiment [6][10] - The IPO is a complete Offer for Sale (OFS) by Orkla ASA, with no fresh capital being raised, and the price band set between Rs 695 and Rs 730 per share [7][13] Company Overview - Orkla India, established in 1996, is a leading player in the packaged foods and condiments sector, offering over 400 products, including instant mixes, spices, and ready-to-eat meals [8][17] - The company holds a significant market share in South India, with flagship brands MTR and Eastern commanding a 31–42% market share in key markets and an 18.6% share in India's overall convenience food segment [8][17] - Orkla India operates nine manufacturing facilities across India, with a total production capacity of 182,000 tonnes per annum, supported by a robust distribution network [9][17] Financial Performance - In FY25, Orkla India reported a total income of Rs 2,455 crore and a net profit of Rs 256 crore, reflecting a 13% year-on-year growth [10][17] - The company achieved an EBITDA margin of 16.6% and a return on capital employed (ROCE) of 32.7%, indicating strong profitability and operational efficiency [10][17] Analyst Perspectives - Analysts view the Orkla India IPO as an opportunity to invest in a market-leading company with a diverse product portfolio and strong export performance [12][15] - The valuation at the upper end of the price band of Rs 730 translates to a market capitalization of approximately Rs 10,000 crore, with a P/E ratio of around 31.7x based on FY26 annualized earnings [13][16] - Recommendations from analysts suggest a "Subscribe for Long-Term" rating, highlighting the company's strong distribution network and backing from its global parent as key positives for investors [14][16]

Core Insights - The Orkla India IPO has garnered significant interest, with 79% overall subscription on Day 1, particularly strong among Retail Individual Investors (RIIs) who subscribed to 90% of their reserved shares [1][14] - The grey market premium (GMP) for the IPO is Rs 68, suggesting a potential listing price of around Rs 798, indicating a 9.3% expected gain for investors at the issue price [4][14] - The IPO is a complete Offer for Sale (OFS) by Orkla ASA, with no new funds being raised, and is priced between Rs 695-730 per share [5][12] Company Overview - Orkla India, established in 1996, is a prominent player in the packaged foods and condiments sector, offering over 400 products including instant mixes, spices, and ready-to-eat meals [7][15] - The company holds a significant market share, with flagship brands MTR and Eastern capturing 31-42% in key South Indian states and an 18.6% share in India's overall convenience food segment [7][15] - Orkla India exports to over 40 countries and operates nine manufacturing facilities in India with a total production capacity of 182,000 tonnes per annum [8][15] Financial Performance - In FY25, Orkla India reported total income of Rs 2,455 crore and a net profit of Rs 256 crore, reflecting a 13% year-on-year growth [9][15] - The company maintains a strong EBITDA margin of 16.6% and a return on capital employed (ROCE) of 32.7%, indicating robust financial health [9][15] Analyst Insights - Analysts view the IPO as an opportunity to invest in a market-leading company with strong brand recognition and a diverse product portfolio [10][11] - The valuation at the upper price band of Rs 730 results in a market capitalization of approximately Rs 10,000 crore, equating to a P/E ratio of around 31.7 times FY26 annualized earnings, which is considered justified by its market position [12][14] - The growth strategy of Orkla India focuses on innovation, category diversification, and premiumisation, reinforcing its leadership in the packaged food segment [13][14]

Group 1: Orkla India IPO - Orkla India is set to launch an IPO worth Rs 1,668 crore, with shares listing on both BSE and NSE [7][8] - The IPO is expected to test investor sentiment towards consumer staples following a series of tech and industrial offerings [7][8] - The grey market premium (GMP) for Orkla India is currently around 8–10%, indicating mild listing optimism [7][8] Group 2: Game Changers Texfab IPO - Game Changers Texfab will open its SME IPO worth Rs 54.84 crore on October 28, closing on October 30, with a price band of Rs 96 to Rs 102 per share [4][8] - The company is involved in fabric trading and processing, primarily based in Gujarat, and plans to use IPO proceeds for working capital and capital expenditure [4][8] Group 3: Jayesh Logistics IPO - Jayesh Logistics will open its IPO worth Rs 28.63 crore on October 27, closing on October 29, with a price band of Rs 116 to Rs 122 per share [5][8] - The company provides transport, warehousing, and supply chain management services to industrial clients across India, with funds raised aimed at working capital and general corporate purposes [5][8] Group 4: Market Outlook - Analysts suggest that the upcoming IPOs could signal a revival of IPO activity after a brief lull, with a busy November anticipated [6][8] - Other companies targeting November listings include Lenskart, Veeda Clinical Research, and ICICI Pru AMC among others [6][8]