Orkla India Ltd

Orkla India Ltd, is an Indian food company and is the subsidiary of Orkla of Norway. It has a collection of iconic Indian heritage food brands, including MTR Foods, Rasoi Magic, and Eastern Condiments. While it has significant presence in Karnataka, Telangana, and Andhra, it also services customers across India and in GCC Countries, the US, and Canada. It has a portfolio of 400 food related products and sells about 2.3 million units on an average day. 

The IPO is entirely an offer for sale (OFS) by promoters and early investors, with no fresh issue component. The issue is being lead-managed by ICICI Securities, Citigroup Global, JP Morgan India, and Kotak Mahindra Capital; while KFIN Technologies Ltd (KFINTECH) will be the registrars to the IPO. The company has been promoted by Orkla Asia, Orkla Holdings A/S, and Orkla Asia Pacific Pte Ltd. Post IPO, promoter stake will dilute from 90.01% to 75%. 

Highlights of the IPO Issue

Here are the key highlights of the public issue of Orkla India Ltd. 

1. The IPO of will be open from October 29th, 2025 to October 31st, 2025. It has a face value of ₹1 per share and IPO price band is set in range of ₹695 to ₹730 per share.
2. The IPO of Orkla India Ltd will be entirely an offer for sale (OFS) of shares by the promoters and early investors of the company; with no fresh issue component.
3. The OFS of the IPO comprises the sale of 2,28,43,004 shares (228.43 lakh shares), which at the upper price band of ₹730 per share translates into ₹1,667.54 crore.
4. Since there is no fresh issue, the OFS size will also double up as the overall IPO size. Thus, the overall IPO will also comprise the sale of 2,28,43,004 shares (228.43 lakh shares) worth ₹1,667.54 crore at the upper band price of ₹730 per share. 

The IPO of Orkla India Ltd will be listed on the NSE and the BSE on the IPO mainboard. 

Key Dates, Investor Allocation, And Lot Sizes

Here are the key dates pertaining to the IPO of Orkla India Ltd 

Data Source: Company RHP 

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).  

The table below captures the gist of the allocation to various categories. 

Data Source: Security Parameters Filing (NSE) 

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Orkla India Ltd for various categories of investors. 

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 20 shares) 

Financial Highlights

The table captures the key financials of Orkla India Ltd for last 3 financial years.  

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period) 

While the sales growth is nominal, the profits have been erratic. However, the higher profits in FY2023 are due to the deferred tax credits, which is not a sustainable inflow. Hence, that must be taken with a pinch of salt. 

Valuation Metrics

At the current issue price of ₹730 per share, the valuation of the company is at a P/E ratio of 39.0X in terms of latest year EPS of ₹18.70. The PAT margins of the company and even the ROE are on the lower side, largely due to a big equity base. 

However, Orkla India Ltd does have some other intangible benefits that it brings to the table. It has iconic brands and product leadership in the niche product lines it operates in. its quality control measures and control over the supply chain are big advantages for the company. The MNC status of the company gives it access to global management best practices, which can be replicated in the Indian context. Investors must remember that this IPO can give them access to marquee home growth food brands. 

A Brief on the Anchor Allocation

The anchor issue of Orkla India Ltd saw a strong response on 28th October 2025 with 29.96% of the IPO size absorbed by anchors. Out of 2,28,43,004 shares (228.43 lakh shares) on offer in the IPO, anchors picked up 68,43,900 shares (68.44 lakh shares) accounting for 29.96% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹730 per share. This includes the face value of ₹1 per share plus a share premium of ₹729 per share. The anchor bidding opened and closed on 28th October 2025.  

Key Points to Note in the Anchor Allocation Process

Here are the key details pertaining to the anchor bidding of Orkla India Ltd 

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery. 

Anchor Allocation Investors

On 28th October 2025, Orkla India Ltd allotted 68,43,900 shares to 30 anchor investors. The allocation was done at the upper IPO price band of ₹730 per share which resulted in overall anchor allocation of ₹499.60 crore. The anchors have already absorbed 29.96% of the total issue size of ₹1,667.54 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹321.19 crores, or, 64.29% of anchor allocation. 

Data Source: BSE Filings (Value Allocated in ₹ in Crore) 

The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below. 

https://www.bseindia.com/markets/MarketInfo/DownloadAttach.aspx?id=20251028-52&attachedId=029c84d7-dee9-429e-abf5-2f412618fb5f 

Out of the 68,43,900 shares allocated to the anchors in the IPO, there were a total of 29,01,920 shares allocated to mutual funds registered with SEBI. The allocation was made to 13 mutual fund schemes across 6 AMCs. Mutual funds accounted for 42.40% of the total anchor allocation of the IPO. Global FPIs, AIFs, and insurance companies were also active in participating in the anchor allocation of Orkla India Ltd. 

Next Step in the IPO

Post the closure of the IPO subscription on 31st October 2025, the basis of allotment will be finalized on 03rd November 2025 and the refunds will be initiated on 04th November 2025. In addition, the demat credits are expected to also happen on 04th November 2025 and the stock will list on 06th November 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th November 2025 under ISIN (INE16NZ01023). 

IPO Subscription Status On Day-1

As of 5.10 pm on 29th October 2025, out of the 159.99 lakh shares on offer in the IPO (excluding anchor portion), Orkla India Ltd saw bids for 125.62 lakh shares. This implies an overall subscription of 0.79X at a macro level at close of Day-1. The granular break-up of subscriptions as of the close of Day-1 of the IPO of Orkla India Ltd was as under: 

The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company had strong anchor participation a day ahead of the IPO opening. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion. 

Data Source: NSE / BSE (as of close of Day-1 of the IPO) 

The IPO is open up to October 31, 2025, at which point we will know the final subscription status of the IPO. 

IPO Subscription Status On Day-2

As of 5.10 pm on 30th October 2025, out of the 159.99 lakh shares on offer in the IPO (excluding anchor portion), Orkla India Ltd saw bids for 432.54 lakh shares. This implies an overall subscription of 2.70X at a macro level at close of Day-2. The granular break-up of subscriptions as of the close of Day-2 of the IPO of Orkla India Ltd was as under: 

The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company had strong anchor participation a day ahead of the IPO opening. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion. 

Data Source: NSE / BSE (as of close of Day-2 of the IPO) 

The IPO is open up to October 31, 2025, at which point we will know the final subscription status of the IPO. 

IPO Subscription Status On Day-3

As of 7.30 pm on 31st October 2025, out of the 159.99 lakh shares on offer in the IPO (excluding anchor portion), Orkla India Ltd saw bids for 7,796.62 lakh shares. This implies an overall subscription of 48.73X at a macro level at close of Day-3. The granular break-up of subscriptions as of the close of Day-3 of the IPO of Orkla India Ltd was as under: 

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that was the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company had strong anchor participation a day ahead of the IPO opening. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion. 

Data Source: NSE / BSE (as of close of Day-3 of the IPO) 

The IPO of Orkla India Ltd was open up to October 31, 2025, and has closed for subscription as of the close of trading hours on October 31, 2025. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO, although a higher subscription is not an automatic guarantee of a strong listing of the IPO stock. 

About The Orkla India Ltd

The IPO of Orkla India Ltd opened on October 29th, 2025 and closed on October 31st, 2025. The IPO comprised entirely of an offer for sale (OFS) of 2,28,43,004 shares (228.43 lakh shares) worth ₹1,667.54 crore at the upper band price of ₹730 per share. The allotment status will be finalized by EOD of November 03rd, 2025. Here is how to check allotment status for the IPO of Orkla India Ltd. You can check IPO status on BSE or NSE or IPO Registrar website (KFIN Technologies). 

Checking The Allotment Status of IPO on BSE Website

This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.  

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow. 

1. Under Issue Type – Select Equity Option
2. Under Issue Name – Select Orkla India Ltd from the drop-down box 
3. Enter the Application Number / CAF exactly as in the acknowledgement slip 
4. Alternatively, Enter your PAN (10-digit alphanumeric) number 
5. Once this is done, you need to click on the Captcha to verify you are not a robot 
6. Finally click on the Search Button 

You can use either of the parameters to query; Application / CAF number or Investor PAN. 

The allotment status will be displayed on the screen in front of you informing about the number of shares of Orkla India Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits. 

Checking The Allotment Status of IPO on NSE Website

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.  

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids 

Once you reach the page, here are the steps to follow. 

1. Under Issue Type – Select Equity & SME IPO Details Option 
2. Under SELECT SYMBOL – Select ORKLAINDIA from the drop-down box 
3. Enter the Application Number / CAF exactly as in the acknowledgement slip 
4. Enter your PAN (10-digit alphanumeric) number 
5. Once both are entered, click on the Submit Button 

You must input the Application / CAF number and the Investor PAN. 

The allotment status will be displayed on the screen in front of you informing about the number of shares of Orkla India Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits. 

Checking Allotment Status of IPO on KFIN Technologies Ltd

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below: 

https://kosmic.kfintech.com/ipostatus/ 

KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Orkla India Ltd.  

THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD 

To Query by Application Number, check the appropriate box and follow these steps. 

1. Enter the Application Number as it is
2. Enter the 6-digit Captcha Code 
3. Click on Submit button 
4. Allotment Status gets displayed on screen 

Unlike in the past, now you do not have to select ASBA versus Non-ASBA option. 

To Query by Demat Account, check the appropriate box and follow these steps. 

1. First select the depository (NSDL / CDSL) 
2. Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL) 
3. Enter the Client-ID in the second box 
4. For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string 
5. Enter the 6-digit Captcha Code 
6. Click on Submit button 
7. Allotment Status gets displayed on screen 

To Query by PAN, check the appropriate box and follow these steps. 

1. Enter the 10-Character PAN number, available on your PAN card 
2. After you enter the PAN number, Enter the 6-digit numeric Captcha Code 
3. Click on Submit button 
4. Allotment status gets displayed on screen 

If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.  

Modest Listing For Orkla India Ltd

Orkla India Ltd had a modest listing on 06th November 2025. On the NSE, the stock of Orkla India Ltd listed at ₹750.10, a modest premium of 2.75% to the IPO issue price of ₹730 per share. The issue was subscribed just 48.73 times overall at the close of the IPO, so opening sentiments being so modest was rather surprising. However, had the market sentiments been stronger, the post listing performance could have been better. 

On the BSE also, the listing of Orkla India Ltd was at a modest premium. Against the issue price of ₹730 per share, the stock listed at ₹751.50, a premium of 2.95% to the issue price. The stock of Orkla India Ltd is on T+1 rolling settlement system. 

How The Stock of Orkla India Ltd Moved During the Day?

After opening higher at ₹750.10 per share on the NSE, the stock weak and mostly below the listing price. During the day, the stock of Orkla India Ltd touched a high of ₹760 and an intraday low of ₹692.55. On the NSE, the upper circuit band of the stock is set at ₹900.10 while the lower circuit band is set at ₹600.10 per share. Effectively, the stock remained below the listing price for better part of the trading day. 

What about the BSE? After opening modestly higher at ₹751.50 per share on the BSE, the stock hovered below the listing price for most part of the day. During the day, the stock of Orkla India Ltd touched a high of ₹755 and an intraday low of ₹693.35. On the BSE, the upper circuit band of the stock is set at ₹901.75 while the lower circuit band is set at ₹601.25 per share. Even on BSE, the stock remained well short of the listing price. 

How Did The Stock of Orkla India Ltd Close on Listing Day?

Here is how the stock of Orkla India Ltd closed on the NSE. The closing price of ₹709 per share is at a discount of -2.88% to the IPO issue price but a discount of -5.48% to the listing price of ₹750.10 per share on the NSE. The company had a market cap of ₹9,713 crore at close. During the day, the stock of Orkla India Ltd traded 166.14 lakh shares on the NSE, with total traded value of ₹1,215.47 crore. Deliveries were 56.17% of the total volumes on NSE. 

Here is how the stock of Orkla India Ltd closed on the BSE. The closing price of ₹713.40 per share is a discount of -2.27% to the IPO issue price but a discount of -5.07% to the listing price of ͭ₹751.50 on the BSE. The company had a market cap of ₹9,773 crore as of close. During the day, the stock of Orkla India Ltd traded 20.03 lakh shares on the BSE, having a total traded value of ₹146.62 crore. Deliveries were 60.12% on the BSE. 

The stock trades under the codes: NSE (ORKLAINDIA), BSE (544595), ISIN (INE16NZ01023).