Orkla India, the owner of well-known food brands MTR Foods and Eastern Condiments, has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO). The Orkla India IPO is a complete offer for sale (OFS) with no fresh equity being issued.
The IPO consists of a total OFS of 2.28 crore equity shares. The shares will be offloaded by the company’s current shareholders, Orkla Asia Pacific Pte, along with Navas Meeran and Feroz Meeran. The DRHP confirms that Orkla India itself will not receive any proceeds from this issue.
At present, the company is majority-owned by Orkla Asia Pacific Pte and its parent, Norwegian investment firm Orkla ASA, which together hold 90%. The remaining 10% is equally held by Navas Meeran and Feroz Meeran, with 5% each.
ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company are acting as the lead book-running managers for the IPO.
Orkla India Private Limited is one of ten portfolio companies under Orkla ASA, a Norwegian firm listed on the Oslo Stock Exchange. The company manufactures a wide range of food products, including spices, ready-to-eat meals, breakfast mixes, and sweets. Its products are sold under major brands like MTR, Eastern, and Rasoi Magic.
The business is divided into three main units: MTR, Eastern, and International Business. While MTR and Eastern have strong positions in southern states such as Karnataka, Kerala, Andhra Pradesh, and Telangana, the International Business segment serves Indian communities abroad.
Orkla India’s registered office is in Bengaluru, Karnataka.
On March 27, 2025, Orkla India announced a board restructuring with the appointment of four new non-executive independent directors: Ms. Rashmi Joshi, Mr. Amit Jain, Ms. Shantanu Khosla, and Ms. Meena Ganesh.
These appointments join the existing board comprising Mr. Atle Vidar Nagel Johansen (Chairman), Ms. Maria Syse-Nybraaten, Mr. Per Havard Skiaker Maelen, and Mr. Sanjay Sharma. The expanded eight-member board brings additional expertise and enhances corporate governance.
The Orkla India IPO represents a move by existing shareholders to monetise their holdings through an offer for sale. With strong regional brands and an international presence, the company is well-established in the packaged foods sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing
Published on: Jun 11, 2025, 4:56 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and asset management, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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