Orkla India shares list at 3% premium over IPO price
Orkla India's shares debuted on the NSE at Rs 750.10 and on the BSE at Rs 751.50, representing about a 3% premium over the IPO price. The Rs 1,667 crore IPO was heavily oversubscribed 48.7 times, reflecting strong institutional demand and investor confidence in the company's brand strengths and market leadership in convenience foods.
Orkla India's initial public offering (IPO) raised Rs 1,667 crore through a pure offer for sale and was subscribed nearly 49 times, indicating high investor interest. The shares listed on the National Stock Exchange at Rs 750.10 and on the Bombay Stock Exchange at Rs 751.50, about 3% above the IPO issue price range of Rs 695-730. Despite grey market expectations of around 9% listing premium, the actual debut was modest. The company's market capitalization post-listing stood over Rs 10,294 crore. Orkla India, known for brands like MTR and Eastern, operates in the Indian consumer food space, offering products such as spices, ready-to-eat meals, and breakfast mixes. Analysts viewed the strong subscription and premium listing as a signal of confidence in Orkla's growth prospects driven by rising demand for convenience food in key southern markets. Some experts advised a long-term holding strategy for allotted investors, while suggesting a cautious approach for those who missed the IPO. Overall, the listing underscores Orkla India's strong positioning and investor trust in its fundamentals and market leadership.
