The Orkla India IPO has caught the spotlight this week as one of the most awaited food-sector listings of 2025. Backed by Norway-based multinational Orkla ASA, the company owns well-known Indian brands like MTR Foods, Eastern Condiments, and Rasoi Magic. With its strong legacy in packaged foods and condiments, the IPO is drawing attention from both domestic and global investors.
Investor excitement remains high due to Orkla India’s solid brand recall, export footprint in over 40 countries, and the sector’s long-term growth potential driven by India’s shift toward branded food consumption.
About Orkla India Limited
Orkla India Limited is a diversified food products company with a focus on spices, condiments, ready-to-eat meals, and packaged foods. The company operates nine manufacturing units across India and exports its products to more than 40 countries.
Its brand portfolio includes:
- MTR Foods – ready mixes, breakfast items, and beverages
- Eastern Condiments – spices and masalas
- Rasoi Magic – ready-to-cook mixes
The company enjoys a strong presence in South India and the Middle East. It has steadily expanded through strategic acquisitions and product innovations under the guidance of its Norwegian parent, Orkla ASA, a global consumer goods giant.
Orkla India IPO Details
| Parameter | Details |
|---|---|
| IPO Type | Book Built Issue (Mainboard IPO) |
| Issue Size | ₹1,667.54 crore |
| Offer Type | 100% Offer for Sale (OFS) |
| Price Band | ₹695 – ₹730 per share |
| Face Value | ₹1 per share |
| Lot Size | 20 shares |
| Minimum Investment | ₹14,600 (1 lot) |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Anchor Bidding | October 28, 2025 |
| IPO Open Date | October 29, 2025 |
| IPO Close Date | October 31, 2025 |
| Allotment Date | November 3, 2025 |
| Refunds Initiation | November 4, 2025 |
| Demat Credit | November 4, 2025 |
| Listing Date | November 6, 2025 |
| Registrar | KFin Technologies Ltd. |
| Lead Managers | ICICI Securities, Kotak Mahindra Capital, Citigroup Global Markets India, JP Morgan India |
| Listing Exchanges | BSE & NSE |
Grey Market Premium (GMP) Today
As of October 25, 2025, the Orkla India IPO GMP is around ₹130 per share, slightly down from ₹145 on October 24.
At the upper price band of ₹730, this translates to an expected listing price of around ₹860, implying a listing gain of about 18%.
| Date | GMP (₹) | Estimated Listing Price (₹) | Trend |
|---|---|---|---|
| Oct 25, 2025 | 130 | 860 | Slightly Down |
| Oct 24, 2025 | 145 | 875 | Upward |
| Oct 23, 2025 | 120 | 850 | Rising |
| Oct 22, 2025 | 110 | 840 | Stable |
Note: GMP is unofficial and can fluctuate based on subscription levels, market trends, and investor sentiment.
Financial Summary
| Year | Revenue (₹ crore) | EBITDA (₹ crore) | PAT (₹ crore) | EPS (₹) |
|---|---|---|---|---|
| FY23 | 2,125 | 302 | 194 | 12.4 |
| FY24 | 2,417 | 346 | 221 | 13.9 |
| FY25 (Est.) | 2,670 | 390 | 260 | 16.3 |
Highlights:
- 11% CAGR revenue growth (FY23–FY25E)
- Improving profit margins due to premium product mix
- Strong brand-driven pricing power in spices and convenience foods
Strengths
- Strong heritage brands (MTR, Eastern, Rasoi Magic) with pan-India recognition
- Extensive distribution and export reach (40+ countries)
- Healthy financials with consistent profit growth
- Support from parent company Orkla ASA for R&D and innovation
- Strong presence in fast-growing ready-to-eat and spice categories
Risks
- Entirely OFS — company won’t receive IPO proceeds
- Competitive FMCG landscape with pressure from domestic and global players
- Dependency on raw material price fluctuations (spices, pulses, etc.)
- Potential valuation concerns given high P/E multiple (~45x FY25E earnings)
Expert Review
- Motilal Oswal: Subscribe for Long-Term — Strong fundamentals, brand power, and sector tailwinds.
- Angel One: Neutral — Solid business but expensive valuation vs peers like Nestlé India and Dabur.
- Geojit Financial: Subscribe with Caution — Stable growth, but limited listing gains expected.
Overall Verdict:
Subscribe for long-term wealth creation if you believe in India’s packaged food growth story. Listing gains may be moderate due to rich valuation.
FAQs
1. What is the Orkla India IPO GMP today?
As of October 27, 2025, the GMP is ₹130 per share, indicating an 18% premium over the upper price band.
2. Is Orkla India IPO good for long-term investment?
Yes, due to its strong brands, stable margins, and growing packaged food segment, it suits long-term investors.
3. What are the Orkla India IPO open and close dates?
The IPO opens on October 29, 2025, and closes on October 31, 2025.
4. What is the allotment and listing date of Orkla India IPO?
Allotment will be finalized on November 3, 2025, and the listing date is November 6, 2025.
5. How can I apply for the Orkla India IPO?
You can apply online via ASBA or UPI through brokers like Zerodha, Upstox, or Groww.
6. Is Orkla India IPO fully OFS?
Yes, it’s a 100% Offer for Sale — proceeds go to existing shareholders.
Orkla India IPO Review
Conclusion
The Orkla India IPO offers investors an opportunity to own a part of India’s well-established food and condiments leader. While valuation appears on the higher side, the company’s strong brands, growth consistency, and industry prospects make it a “Subscribe for Long-Term” candidate.
Investors looking for quick listing gains should temper expectations as GMP has cooled slightly. However, for those seeking stable, defensive FMCG exposure — Orkla India stands out as a solid pick.
Sources
- Orkla India Financial Reports
- DRHP
- RHP
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