The ₹1,667-crore initial public offering (IPO) of Orkla India, the company that owns MTR Foods, has been subscribed more than four times (403%) on its third and final day of bidding on October 31.
As per NSE data at 10:36 am, the public issue received bids for around 6.5 crore shares against the offer size of nearly 1.6 crore shares.
Strong Demand from Non-Institutional Investors
Among investor categories, Non-Institutional Investors (NIIs) led the subscription numbers, booking their portion 12.48 times.
Retail investors subscribed 2.65 times their reserved quota, while Qualified Institutional Buyers (QIBs) have subscribed 8% of their portion so far.
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GMP Rises Marginally Ahead of Listing
According to Investorgain, the grey market premium (GMP) for Orkla India shares stood at 9.86% over the IPO price — slightly higher than 9.59% a day earlier and 9.32% two days ago.
IPO Structure and Price Details
The ₹1,667-crore IPO is an offer for sale (OFS) of 2.28 crore shares by the promoter Orkla Asia Pacific and selling shareholders Navas Meeran and Feroz Meeran. There is no fresh issue component, meaning no new capital will go to the company.
Price Band: ₹695–₹730 per share
Bidding Period: October 29–31
Minimum Investment: 20 shares (₹14,600 at upper band)
Allotment Date: Likely by November 3
Listing Date: Scheduled for November 6
Anchor Book Raised ₹499.6 Crore from 30 Institutions
Ahead of the IPO opening, Orkla India raised ₹499.6 crore from 30 institutional investors via its anchor book on October 28.
Key participants included Nippon Life India, Aditya Birla Sun Life AMC, Ashoka WhiteOak, Nomura Funds, Government Pension Fund Global, Jupiter Global Fund, Pinebridge Global Funds, Baroda BNP Paribas MF, LIC MF, and Edelweiss.
Other investors included Tata Investment Corporation, Bajaj Finserv MF, Aurigin Master Fund, Societe Generale, and Copthall Mauritius Investment.
Key Highlights
IPO size: ₹1,667 crore (entirely OFS)
Subscription (as of 10:36 am): 4.03x overall
Retail: 2.65x | NII: 12.48x | QIB: 8%
Price band: ₹695–₹730 per share
GMP: 9.86%, up from 9.59% yesterday
Anchor investors: 30 institutions raised ₹499.6 crore
Listing date: November 6
Click here to explore: Orkla IPO
