Orkla India Plans Its Market Debut

Orkla India Limited, the Indian arm of Norwegian conglomerate Orkla ASA and parent of household brands such as MTR Foods, Eastern Condiments, and Rasoi Magic, is set to make its entry into the Indian stock market. The company has reportedly completed its investor roadshows and is now preparing to launch its initial public offering in the coming weeks.

According to sources familiar with the matter, the IPO could be valued between 1.1 billion and 1.18 billion dollars, translating to roughly ₹9,800 to ₹10,500 crore. The issue, which will be a complete offer for sale, may be launched by late October or early November depending on market performance.

This move positions Orkla India among the growing number of multinational corporations leveraging India’s bullish equity markets to unlock value. The development follows the massive success of LG Electronics India’s IPO, which saw a record subscription and strong listing performance.

IPO Structure and Promoter Details

As per the draft red herring prospectus filed earlier in July, Orkla India’s IPO will comprise a full offer for sale of 2.28 crore equity shares. The selling shareholders include Orkla Asia Pacific Pte Ltd, Orkla ASA, and minority shareholders Navas Meeran and Feroz Meeran.

Orkla Asia Pacific and Orkla ASA together hold 90 percent of the company, while Navas and Feroz Meeran each own a 5 percent stake. Since the IPO is entirely an offer for sale, the proceeds will go directly to the selling shareholders, with no funds being raised for the company itself.

Leading investment banks including ICICI Securities, Kotak Mahindra Capital, Citigroup Global Markets India, and JP Morgan India are acting as book-running lead managers for the issue.

Orkla’s Journey in India

Orkla entered the Indian market in 2007 through the acquisition of MTR Foods, a move that marked the beginning of its long-term expansion in India’s fast-growing packaged food segment. In 2012, the company further strengthened its presence by acquiring Kerala-based Eastern Condiments.

By 2023, Orkla consolidated its operations under a single entity, Orkla India Limited, bringing together MTR, Eastern, and its international business. The unified company now operates across multiple categories including spices, condiments, ready-to-cook meals, sweets, and breakfast mixes.

A Technopak report estimates that India’s packaged food market reached ₹10.18 lakh crore in FY24, with a compound annual growth rate of 10.8 percent from FY19. Orkla India’s strong position in the domestic market makes it a major player in this rapidly growing segment.

The Parent Company and Its Vision

Orkla ASA, listed on the Oslo Stock Exchange, is one of Norway’s most diversified industrial investment firms. Its operations span branded consumer goods, aluminium products, and financial investments. The company reported a market capitalization of around 10.2 billion dollars as of early October 2025.

In its latest annual report, Orkla highlighted India as one of its most promising markets. The company’s strategic focus for 2024 to 2026 includes strengthening its leadership in core categories like spices and masalas, expanding innovation in ready-to-eat and breakfast products, and pursuing disciplined investments and acquisitions.

The Growing Trend of MNC IPOs in India

Orkla’s decision to go public comes at a time when several multinational corporations are seeking to capitalize on India’s strong equity market performance. The country has become an attractive destination for global companies looking to raise capital through domestic listings.

The success of Hyundai Motor India’s 3.3 billion dollar IPO in 2024, followed by LG Electronics India’s blockbuster listing, has inspired other MNCs to consider similar paths. Companies such as Carlsberg India, Versuni (formerly Philips Domestic Appliances), and Tenneco India are already preparing their public issues.

With the Sensex climbing nearly 10 percent in the past six months and investor appetite for consumer brands on the rise, the timing appears favourable for Orkla India’s market debut.

What the IPO Means for Investors

The Orkla India IPO is expected to attract strong investor interest given the company’s trusted brand portfolio, long-standing market presence, and robust financial performance. Its leadership in the packaged food sector and parent company backing from Orkla ASA lend significant credibility to its listing.

The IPO will also give investors an opportunity to gain exposure to India’s rapidly expanding FMCG and packaged food market, which continues to outpace most global markets in growth potential.

With its mix of iconic Indian brands, international expertise, and strong governance, Orkla India’s listing is poised to become one of the most closely watched offerings of 2025.

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