Orkla India Shares Begin Trading Slightly Above IPO Price
The Rs 1,667-crore IPO of Orkla India, subscribed 48.73 times between October 29 and 31, saw shares debut on the National Stock Exchange (NSE) at Rs 750.10 each. This represented a 2.75% premium over the IPO price band of Rs 695–730 per share, according to News.Az citing foreign media.
On the Bombay Stock Exchange (BSE), shares opened at Rs 751.50 apiece, a 2.95% premium, resulting in a post-listing market capitalization of Rs 10,294.74 crore. Prior to listing, the company raised about Rs 500 crore from anchor investors.
The listing performance was below grey market expectations, which had predicted roughly a 9% gain.
Prashanth Tapse, Senior Vice-President (Research) at Mehta Equities, stated, "[translate:Orkla India, backed by strong brands such as MTR and Eastern, presents a compelling long-term structural growth story.]"
Tapse also added that the strong subscription numbers demonstrate investor confidence in the company’s fundamentals and its potential to benefit from growing demand for convenience foods in key southern markets.
Author’s summary: Orkla India’s IPO attracted significant investor interest, resulting in a solid market debut with modest gains that reflect confidence in its strong brand portfolio and growth prospects.
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