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+91
Orkla IPO
Mainboard
Open Date
29 Oct 2025
Close Date
31 Oct 2025
Open Date
29 Oct 2025
Close Date
31 Oct 2025
Min Investment
₹ 13,900
Lot Size
20
Issue Size
₹ 1667.54 Cr
Price Range
₹ 695 - ₹ 730
Subscribed
48.53 x
IPO Timeline
IPO Offer Start
29 Oct 2025
IPO Offer Ends
31 Oct 2025
Allotment Finalisation
3 Nov 2025
Refund Initialisation
4 Nov 2025
Non-Institutional Buyers (sHNI)
4 Nov 2025
Listing of Shares
6 Nov 2025
IPO Subscription Details as on 13 Nov 2026, 08:43 AM
Qualified Instituational Buyers (QiB)
117.63 x
Qualified Instituational Buyers (QiB)
117.63 x
Retail
6.69 x
Retail
6.69 x
Employees
14.77 x
Employees
14.77 x
Total
48.53 x
Total
48.53 x
Non-Institutional Buyer (bHNI)
65.41 x
Non-Institutional Buyer (bHNI)
65.41 x
Non-Institutional Buyer (sHNI)
32.13 x
Non-Institutional Buyer (sHNI)
32.13 x
Note: This information is provided for general guidance only. Dates may be subject to change.
About the Company
The company is a multi-category Indian food company with operations spanning several decades, offering a diverse range of products that cater to every meal occasion, from breakfast and lunch to dinner, snacks and beverages and desserts. According to the Technopak Report, in Fiscal 2024, the company was one of the top four companies in terms of revenue from operations among select leading spices and convenience food peers. The company's products, under its brands MTR and Eastern, are crafted with authenticity and tradition, and are deeply rooted in the South Indian culinary heritage. The key product categories the company offers are Spices (comprising blended and pure spices), and Convenience Foods (comprising ready-to-cook (RTC), ready-to-eat (RTE) foods and Vermicelli, among others). The company's portfolio comprises approximately 400 products across these categories, as of June 30, 2025, and the company sold approximately 2.3 million units on average every day as of June 30, 2025. The company has cultivated an understanding of the local South Indian taste palate over several decades of operation and has built a repository of over 4,000 recipes through collaboration and engagement with local communities, food historians and chefs. The company's understanding of local tastes is complemented by its deep and expansive distribution network, which is instrumental to accessing and catering to the large consumer base in its core markets. As of June 30, 2025, the company's distribution network comprised 834 distributors and 1,888 sub-distributors across 28 states and six union territories. The company's multi-category product portfolio is manufactured across its owned manufacturing facilities in India as well as contract manufacturing facilities in India and in the UAE, Thailand and Malaysia. As of June 30, 2025, the company operated nine owned manufacturing facilities in India, with a total installed capacity of 182,270 TPA. The company is a subsidiary of Orkla ASA, a Norway-listed industrial, long-term investment company focused on brands and consumer-oriented companies, with a legacy spanning over 370 years.
Founded In
1996
CEO
Atle Vidar Nagel Johansen
Financials of Orkla India IPO
Total Income
Total Expenses
Total Profit
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | 2,17,248.00 | 2,35,601.00 | 2,39,471.00 |
| Other Income | 2,896.00 | 3,198.00 | 6,053.00 |
Total Income | 2,20,144.00 | 2,38,799.00 | 2,45,524.00 |
Total Expenses | 1,94,372.00 | 2,08,337.00 | 2,06,615.00 |
| Profit Before Tax | 25,691.00 | 30,683.00 | 35,505.00 |
Total Profit | 33,913.00 | 22,633.00 | 25,569.00 |
All figures are in lakhs (₹)
Utilisation of Proceeds
All figures are in lakhs (₹)
| Purpose | Amount |
|---|---|
| The company is conducting an Offer for Sale where existing shareholders will sell their equity shares to the public. The selling shareholders include Orkla Asia Pacific Pte. Ltd., Navas Meeran, and Feroz Meeran, who will collectively offer up to equity shares bearing face value of Re each. The company will not receive any proceeds from this offer as all proceeds will go to the selling shareholders after deduction of offer-related expenses and relevant taxes. | - |
| The company expects that listing of the equity shares will enhance the company's visibility and brand image and provide liquidity and a public market for the equity shares in India. This will allow investors to trade the company's shares on recognized stock exchanges. | - |
- Category market leader with the ability to build and scale household food brands through an in-depth understanding of local consumer tastes: The company holds market leadership positions in key South Indian states - 31.2% market share in Karnataka packaged spices, 41.8% in Kerala packaged spices, and 15.2% in Andhra Pradesh and Telangana. Eastern has maintained its position as India's largest exporter of branded spices for 24 consecutive years. The company has developed an effective framework for building and scaling brands while preserving their local heritage, demonstrated through Eastern's household reach growth in Karnataka from 8.8% in December 2021 to 19.9% in December 2024.
- Multi-category food company with a focus on product innovation: The company continuously innovates around its offerings through enhancing recipes, creating different product formats, and implementing novel preparation methods. The company operates two Cuisine Centres of Excellence with a dedicated product development team comprising 37 on-roll members including chefs, enriching a repository of over 4,000 recipes. From Fiscal 2023 to June 30, 2025, the company added 15 products in the Spices category and 27 products in the Convenience Foods category.
- Extensive distribution infrastructure with deep regional network and wide global reach: The company has an extensive distribution network with 834 distributors and 1,888 sub-distributors across 28 states and six union territories, 42 modern trade partners and six e-commerce and quick commerce partners. The company's brands have presence in 67.5% of retail outlets in Karnataka and 70.4% in Kerala versus industry average of 30-40%. The company exported products to 45 countries as of June 30, 2025, with revenue from customers outside India contributing ₹1,196.9 million (20.4%) in Q1 FY2026 and ₹4,861.7 million (20.6%) in Fiscal 2025.
- Efficient, large-scale manufacturing with stringent quality control and a robust supply chain: The company operates nine manufacturing units in India with total installed capacity of 182,270 TPA as of June 30, 2025. The company has continually upgraded manufacturing capabilities with largely automated key facilities in Bommasandra, Bengaluru, and implemented IoT enabled manufacturing. The company maintains robust quality control mechanisms with global certifications such as BRCGS and ISO 22000, and operates two central distribution centres and 20 regional/local warehouses covering 348,640 square feet.
- Experienced and tenured management team supported by strong global parentage: The company has an experienced management team leading 2,586 employees as of June 30, 2025. The company is a subsidiary of Orkla ASA, a Norway-listed industrial investment company with market capitalisation of approximately US$ 11 billion as of March 31, 2025, and consolidated group revenue of approximately US$6.2 billion in 2024. The company benefits from Orkla ASA's Global Centres of Excellence in domains such as food safety and quality, sustainability, marketing and innovation.
- Capital efficient business model with a track record of delivering profitable growth: The company has witnessed sustained growth with revenue from operations of ₹5,970.0 million in Q1 FY2026 (5.9% period-on-period growth) and ₹23,947.1 million in Fiscal 2025 (1.6% year-on-year growth). The company achieved Adjusted EBITDA margin of 18.7% in Q1 FY2026 and 16.6% in Fiscal 2025, with Return on capital employed of 8.9% and 32.7% respectively. According to the Technopak report, the company was the second fastest growing company in terms of EBITDA and PAT among select leading spices and convenience food peers for Fiscal 2022-2024 period, with CAGR of 20.3% and 39.0% respectively.
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