Orkla India IPO

About the company

Orkla India Limited is a multi-category Indian food company with a strong legacy in authentic South Indian cuisine. Through its flagship brands MTR and Eastern, the company provides a wide range of more than 400 products across spices (blended and pure) and convenience Foods (ready-to-cook, ready-to-eat, and vermicelli). It addresses each meal occasion from breakfast, lunch to dinner, snacks, beverages and desserts, with a deep-rooted connection to local tastes and culinary culture. The company is among the top 4 Indian players in revenue from operations in the spices and convenience food category in FY24. The company has leading market positions in South India, especially in Karnataka (31.2%) and Kerala (41.8%), with MTR and Eastern being household names. Eastern has been India's largest exporter of branded spices for 24 consecutive years. Orkla India, through its brands, Eastern and MTR, holds approximately 22.2% market share in the branded spices exports segment as of FY24. With a presence in 45 countries, overseas sales contributed to 20.6% of total revenue in FY25, demonstrating the firm's expanding footprint across countries in the Gulf Cooperation Council (GCC) region, the US, and Canada. In the spices segment, its major products are sambar masala, chicken masala, puliogare masala, rasam masala, and meat masala in blended spices, and chilli, kashmiri chilli, turmeric, coriander, and cumin in pure spices. Convenience Foods consists of widely used ready-to-cook as well as ready-to-eat items like Gulab Jamun Mix, Rava Idli Mix, 3-Minute Poha, and Dosa Mix. As of June 30, 2025, the company sold roughly 23 lakhs units on average daily. The company operates through nine owned manufacturing facilities in India with a total installed capacity of 182,270 tonnes per annum, supported by 18 contract manufacturing units across India and three abroad (UAE, Thailand, Malaysia). Its manufacturing facilities are located near raw material source hubs that enhance cost efficiency and reduce lead times. The company has a broad distribution network of 834 distributors and 1,888 sub-distributors covering 28 states and 6 union territories, with presence in over 67.5% of Karnataka and 70.4% of Kerala spice retail outlets as compared to the industry average of 30–40%. It has also gained a solid foothold in new commerce and online platforms, with partnerships with 42 new retail chains and six e-commerce and quick-commerce websites, with online revenues rising over 100% between FY23 and FY25. 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 $11 billion market capitalisation as of March 31, 2025 and operations in over 100 countries, whose global governance, innovation, and sustainability expertise enhances Orkla India's business and quality standards. The Indian domestic spices market is valued at ₹86,000 crore as of FY24, of which packaged spices accounted for 40%, growing at a 13.3% CAGR since FY19. The packaged segment is projected to reach ₹61,500 crore by FY29, representing a 45% share, driven by increasing consumer preference for hygiene, quality assurance, and convenience. Further, the branded packaged spices export market was valued at ₹2,300 crore. Being a market leader in South India with 31.2% market share in Karnataka and 41.8% in Kerala, and a 22.2% market share in the Indian branded spices exports segment, Orkla India is well positioned to capitalise on this organised shift. The company is focused on driving growth in its core markets of Karnataka, Kerala, Andhra Pradesh and Telangana and enhancing its product range presence in the retail outlets. It also intends to enhance its market presence by expanding its product offerings to appeal to non-Indian consumers outside India. Now, Orkla India Ltd is launching its initial public offering (IPO), which consists of an offer for sale of ₹11,607.01 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   29 Oct 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   31 Oct 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   03 Nov 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   04 Nov 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   04 Nov 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   06 Nov 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.