Orkla India IPO Opens: Price Band, GMP, Listing Details & Expert Insights
The long-awaited Orkla India IPO has finally opened for public subscription, bringing excitement to the primary market. Known for owning popular Indian brands like MTR Foods, Eastern Condiments, and Rasoi Magic, Orkla India is one of the most trusted names in the packaged food and spice segment. The company’s IPO has already created a buzz, with its Grey Market Premium (GMP) rising sharply ahead of the listing. Let’s look at all the key details investors should know before applying.
About Orkla India:
Orkla India is a subsidiary of Orkla ASA, a Norway-based multinational company with a strong presence in branded consumer goods. In India, it operates through some of the most popular household brands like MTR, Eastern, and Rasoi Magic, which dominate the packaged food and spices category.
The company manufactures and markets spices, ready-to-eat meals, instant mixes, and beverages — products that have made Orkla India a household name across southern states like Kerala, Karnataka, Andhra Pradesh, and Telangana.
Over the years, the company has built a wide portfolio of over 400 products, catering to both domestic and international markets. Eastern Condiments, one of its flagship brands, has been India’s largest branded spice exporter for 24 consecutive years.
The company also follows an asset-light manufacturing model, operating nine production units in India and outsourcing additional capacity in UAE, Malaysia, and Thailand. With an annual production capacity of 1.82 lakh tonnes, Orkla India currently utilizes about 46% of its total capacity, leaving plenty of room for expansion.
IPO Details: Size, Dates, and Price Band:
The Orkla India IPO opened for subscription on October 29, 2025, and will remain open till October 31, 2025. The company aims to raise ₹1,667.54 crore through this issue.
This IPO is entirely an Offer for Sale (OFS), which means the company will not issue any new shares. Instead, existing shareholders and promoters will sell their stakes to the public.
- IPO Size: ₹1,667.54 crore
- Type: 100% Offer for Sale (OFS)
- Number of Shares Offered: 2.28 crore equity shares
- Price Band: ₹695 to ₹730 per share
- Lot Size: 20 shares per lot
- Minimum Investment (Retail): ₹14,600 (for one lot)
- Listing Platforms: BSE and NSE
- Allotment Date: November 1, 2025 (tentative)
- Listing Date: November 6, 2025
Retail investors can bid in multiples of 20 shares, while high-net-worth individuals (HNIs) and institutional investors have no upper limit.
Grey Market Premium (GMP) Trends:
The Grey Market Premium (GMP) for Orkla India’s shares has been rising rapidly since the IPO announcement. According to market observers, the company’s unlisted shares are currently trading at a premium of around ₹108 per share above the upper price band of ₹730.
This indicates a potential listing gain of around 15% for investors who get allotment. However, analysts also warn that GMP is unofficial and can fluctuate based on market sentiment, liquidity, and subscription levels during the IPO period.
Still, the strong demand in the grey market reflects the high investor confidence in Orkla India’s growth potential and brand value.
Key Dates to Remember:
Event Date
- IPO Open Date October 29, 2025
- IPO Close Date October 31, 2025
- Allotment Date November 1, 2025 (expected)
- Refunds/Share Credit November 3, 2025
- Listing Date November 6, 2025
- Listing Exchange NSE, BSE
The official registrar of this IPO is KFin Technologies Limited, and the book-running lead managers include some of the biggest names in Indian finance — ICICI Securities, Kotak Mahindra Capital, Citigroup Global Markets India, and JP Morgan India.
Business Strengths and Market Share :
Orkla India enjoys a dominant position in the South Indian market, holding a market share of 41.8% in Kerala, 31.2% in Karnataka, and 15.2% across Andhra Pradesh and Telangana. Nationally, the company commands an 18.6% share in the branded food products category.
Around 65% of the company’s revenue comes from spices, while 20% comes from exports to 45 countries, including key markets in the GCC region (UAE, Oman, Saudi Arabia), the United States, and parts of Asia.
The company’s international growth is driven by increasing demand for authentic Indian food products, which positions Orkla India as a global player in the ethnic food segment.
Financial Overview:
Orkla India has demonstrated consistent performance in recent years, despite challenges such as food inflation and raw material price fluctuations.
- Revenue (FY25): ₹2,394.7 crore
- EBITDA: ₹396.4 crore (16.6% margin)
- Net Profit (FY25): ₹255.7 crore
- Profit Before Tax Growth: 17.6% CAGR (FY23–FY25)
- Operating Cash Flow: Improved from ₹190 crore in FY23 to ₹391.7 crore in FY25
In the first quarter of FY26, the company reported an 8.5% year-on-year revenue growth, reflecting a strong start to the new financial year.
Anchor Investors’ Participation:
Ahead of the public issue, Orkla India successfully raised ₹500 crore from anchor investors, which include some of the most reputable names in the market:
- Nippon India Mutual Fund
- Aditya Birla Sun Life MF
- LIC Mutual Fund
- Nomura Funds Ireland
- Government Pension Fund Global
- Jupiter India Fund
- PineBridge India Equity Fund
Such strong participation from institutional investors indicates robust confidence in Orkla India’s business fundamentals and growth prospects.
Expert Opinion :
Market experts remain optimistic about Orkla India’s IPO performance. According to Rajan Shinde, Research Analyst at Mehta Equities, the IPO appears attractive due to its strong brand legacy and leadership in the packaged food segment.
“Orkla India is a leading player in the Indian packaged food and spice industry. With powerful brands like MTR and Eastern, a vast product portfolio, and an expanding export presence, the company is well-positioned for steady growth,” Shinde said.
Analysts also highlight that Orkla India’s asset-light business model and steady margins make it a safe bet for long-term investors seeking exposure to India’s growing FMCG and food product sectors.
Should You Apply for Orkla India IPO?
For short-term investors, Orkla India’s strong GMP and brand visibility suggest a high probability of listing gains. The company’s products enjoy strong customer loyalty and wide market penetration.
For long-term investors, Orkla India’s consistent financial performance, export potential, and strong institutional backing make it a promising investment. However, since the IPO is entirely OFS, the company will not receive any fresh capital from this issue. Hence, growth will depend largely on operational expansion and market demand.
Disclaimer
This article is intended for informational purposes only and should not be considered as financial advice. All details, GMP values, and market opinions are based on publicly available data and may change with market conditions. Investors are advised to consult a certified financial advisor before making any investment decisions.
Orkla India IPO: Frequently Asked Questions:
Q1. What are the IPO opening and closing dates?
Ans. The IPO opened on October 29, 2025, and will close on October 31, 2025.
Q2. What is the Orkla India IPO price band?
Ans. The price band is set between ₹695 and ₹730 per share.
Q3. What is the current GMP of Orkla India IPO?
Ans. As of now, the IPO is trading at a ₹108 premium in the grey market, signaling around 15% potential listing gains.
Q4. When will the shares be listed?
Ans. Shares are expected to list on November 6, 2025, on both NSE and BSE.
Q5. Should investors apply for Orkla India IPO?
Ans. Yes, experts recommend applying, especially for long-term investors looking for exposure to the FMCG and packaged food segment. However, investors should review their risk appetite before applying.
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