MTR Foods parent Orkla India receives SEBI nod for IPO
The IPO will be a complete offer for sale (OFS) of 22,843,004 equity shares by its Norwegian promoter group, comprising Orkla ASA, Orkla Asia Holding, and Orkla Asia Pacific.
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Packaged foods brand MTR Foods’ parent company, Orkla India, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), as per an ET Retail report.
The IPO will be a complete offer for sale (OFS) of 22,843,004 equity shares by its Norwegian promoter group, comprising Orkla ASA, Orkla Asia Holding, and Orkla Asia Pacific.
According to reports, the issue could raise between Rs 4,000 crore and Rs 5,000 crore, depending on the final valuation.
Headquartered in Bengaluru, Orkla India is a diversified food company with a multi-category portfolio that includes spices and convenience foods, such as ready-to-eat and ready-to-cook products marketed under the MTR brand.
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