Orkla India IPO will open for subscription on October 29, 2025, and close on October 31, 2025. Incorporated in 1996, Orkla India Limited is an Indian food company offering a wide range of products spanning breakfast, lunch, dinner, snacks, beverages, and desserts.
Its portfolio includes iconic Indian heritage brands such as MTR Foods, Eastern Condiments, and Rasoi Magic, with MTR covering instant mixes, ready-to-eat meals, masalas, breakfast mixes, snacks, and beverages (including spices, RTC, and RTE foods, vermicelli, etc.), while Eastern focuses on spices and convenience foods.
This blog will provide the details on the Orkla India IPO issue size, price band, minimum investment, proceeds usage, financials, and risk factors.
Orkla India IPO Date
The key pointers for the Orkla India IPO dates are:
- Bidding Opening Date: October 29, 2025
- Bidding Closing Date: October 31, 2025
- Allotment Date: November 3, 2025
- Initiation of Refunds (in case of less or no allotment): November 4, 2025
- Shares Credited to Your Demat Account: November 4, 2025
- IPO Listing Date: November 6, 2025
- Listing on Exchange: BSE and NSE
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Orkla India IPO Issue Size
Orkla India IPO valuation, as denoted by the market capitalisation, stood at ₹10,000 crores. Here are the essential details:
- Orkla India Price Band: ₹695 to ₹730 per share
- Lot Size: 20 Shares
- Total Issue Size and Amount: 2.28 crore shares (aggregating up to ₹1,667.54 crores)
- Offer for Sale and Amount: 2.28 crore shares (aggregating up to ₹1,667.54 crores)
Orkla India IPO Proceeds Usage
As it is a complete offer for sale, the money raised through this IPO will directly go to the promoter selling shareholders after deducting offer-related expenses. The selling shareholders are Orkla Asia Pacific Pte. Ltd., Navas Meeran, and Feroz Meeran.
Orkla India IPO Reservations
Orkla India IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Offer
- For NIIs: Not less than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
Orkla India IPO Lot Size
The Orkla India IPO lot size is 20 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹14,600 |
| S-HNI (Min) | 14 | 280 | ₹2,04,400 |
| B-HNI (Min) | 69 | 1,380 | ₹10,07,400 |
Orkla India IPO Details: Promoter Holding
Orkla ASA, Orkla Asia Holdings AS and Orkla Asia Pacific Pte Ltd are the company promoters.
Orkla India Limited: Company Overview
Orkla India is a subsidiary of Norway-listed Orkla ASA. It houses iconic heritage brands, MTR Foods, Eastern Condiments, and Rasoi Magic, serving consumers nationwide with footholds in Karnataka, Kerala, Andhra Pradesh, and Telangana, and exporting to 42 countries, including the GCC, the US, and Canada.
As of June 30, 2025, the portfolio exceeds 400 products, averaging approximately 2.3 million units sold daily in fiscal 2025. Orkla India manufactures across owned facilities and contract sites in India, the UAE, Thailand, and Malaysia; as of March 31, 2025, it owns nine plants in India with a capacity of 1,82,270 TPA. Its robust distribution spans 834 distributors and 1,888 sub-distributors across 28 states and six union territories.
Competitive strengths include leadership in key categories, multi-category innovation, deep distribution with global reach, large-scale, quality-led manufacturing, experienced management backed by global parentage, and a track record of profitable growth.
Orkla India IPO: Financial Performance
Orkla India Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Operating Revenue | 2,395 | 2,356 | 2% |
| Adjusted EBITDA | 396 | 344 | 15% |
| Net Profit | 256 | 226 | 13% |
| Assets | 3,171 | 3,375 | -6% |
| Net Worth | 1,853 | 2,201 | -16% |
| PAT Margin | 10.7% | 9.6% | 1% |
| ROCE | 32.7% | 20.7% | 12% |
| Trade Working Capital Days | 21.4 | 30.7 | -9.3 |
| Cash Conversion Cycle | 124.8 | 109.9 | 14.9 |
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- Operating Revenue: Orkla India’s revenue grew 2% YoY to ₹2,395 crores in FY25, reflecting steady top-line growth.
- Adjusted EBITDA: Adjusted EBITDA increased 15% YoY to ₹396 crores in FY25, indicating improved operational efficiency and cost management.
- Net Profit: Net profit rose 13% YoY to ₹256 crores, showing healthy bottom-line growth alongside higher EBITDA.
- Assets: Total assets declined 6% YoY to ₹3,171 crores, suggesting a more optimized asset base or lower capital intensity.
- Net Worth: Net worth fell 16% YoY to ₹1,853 crores, highlighting lower valuation despite rising profits.
- PAT Margin: It improved from 9.6% in FY24 to 10.7% in FY25, reflecting better profitability and cost control.
- ROCE: Return on Capital Employed jumped 12 percentage points to 32.7% in FY25, highlighting strong returns from capital deployed.
- Working Capital Days: Trade working capital days reduced from 30.7 to 21.4, showing more efficient working capital management.
- Cash Cycle: Cash conversion cycle increased from 109.9 days in FY24 to 124.8 days in FY25, indicating slightly slower cash flow recovery despite improved working capital days.
Orkla India IPO Peer Comparison
Here is the peer comparison table for Orkla India Limited with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | ROE (%) |
|---|---|---|---|
| Orkla India Limited | ₹18.7 | 39.1 | 13.8% |
| Tata Consumer Products Limited | ₹13.06 | 86.9 | 7.01% |
| Nestle India Limited | ₹33.27 | 82.6 | 83% |
| Patanjali Foods Limited | ₹35.94 | 51.8 | 12.1% |
- EPS: Orkla India reported an EPS of ₹18.7, which is higher than Tata Consumer Products but lower than Nestle India and Patanjali Foods.
- P/E Ratio: Orkla India has a P/E of 39.1, indicating a lower valuation than its key competitors.
- ROE: Orkla India’s ROE stands at 13.8%, which is higher than Tata Consumer and Patanjali Foods, but significantly lower than Nestle India’s 83%.
Orkla India IPO Risk Factors
Orkla India IPO GMP is ₹160 as of October 25, 2025 (at 13:54). It is expected to list at a 21.92% gain at a price of ₹890. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in IPO.
Orkla India IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Raw Material & Packaging Risks: Operations are sensitive to fluctuations in the prices of raw materials and packaging. Any inability to procure these at competitive rates could reduce margins and affect cash flows.
- Product Quality & Safety: Failures in processing, storage, or handling could lead to regulatory action and harm the company’s reputation.
- Manufacturing Risks: Any slowdown, interruption, or under-utilization of manufacturing facilities could impact operations.
- Supplier Dependence: A significant portion of raw materials comes from a few key suppliers. Disruptions or delays in deliveries could materially affect production schedules and financial outcomes.
- Regulatory Exposure: The company is subject to strict statutory and regulatory actions under the Food Safety and Standards Act.
- Geographic Concentration: Most sales and manufacturing facilities are concentrated in South India, making the business vulnerable to regional disruptions.
For all the insights on Orkla India IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Orkla India IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When is the Orkla India IPO and when will it list?
Orkla India IPO opens on October 29, 2025 and closes on October 31, 2025. Allotment is expected on November 3, 2025, refunds and demat credits are slated for November 4, 2025, and the shares are scheduled to list on the BSE and NSE on November 6, 2025.
2. What are the price band, lot size, and minimum investment?
The price band is ₹695 to ₹730 per share, the lot size is 20 shares, and the minimum retail investment is one lot costing ₹14,600 at the upper price of ₹730 per share.
3. How big is the issue, and what valuation does it imply?
The total issue comprises 2.28 crore shares aggregating up to ₹1,667.54 crores, implying a targeted market capitalisation of approximately ₹10,000 crores.
4. What does Orkla India do and which brands does it own?
Orkla India is a diversified food company incorporated in 1996 that offers products across meals, snacks, beverages, and desserts, and it owns iconic Indian heritage brands including MTR Foods, Eastern Condiments, and Rasoi Magic.
References:
https://www.orklaindia.com/wp-content/uploads/sites/3/2025/10/Orkla-India-RHP-Document.pdf
https://www.investorgain.com/gmp/orkla-india-ipo-gmp/1505/
Author: All Content is verified by SMC Global Securities.
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