Orkla India IPO

About Orkla IPO

The offer consists of an offer for sale component. The offer for sale portion includes 2,28,43,004 shares (aggregating up to ₹1,667.54 crores). The total number of shares is 2,28,43,004 and aggregate amount is up to ₹1,667.54 crores.

The IPO opens on Wednesday, 29 October 2025 and closes on Friday, 31 October 2025. The tentative listing is on Thursday, 6 November 2025. The initiation of refund will take place on Tuesday, 4 November 2025. The credit of shares to the demat account will take place on Tuesday, 4 November 2025. The allotment of bids will take place on Monday, 3 November 2025.

Orkla India is a multi-category Indian food company with a legacy spanning several decades. They offer a diverse range of products that cater to every meal occasion, including breakfast, lunch, snacks, dinner, beverages, and desserts. Their key product categories are spices and convenience foods. Their products, under their brands MTR and Eastern, are crafted with authenticity and tradition, and are deeply rooted in South Indian culinary heritage.

Objectives of Orkla IPO

• Carry out the Offer for Sale of up to 22,843,004 Equity Shares bearing face value of ₹1 each by the Selling Shareholders aggregating up to ₹1,667.54 crores

• Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

• To enhance their visibility and brand image and provide liquidity and a public market for the Equity Shares in India.

Industry Outlook

The Indian packaged food market was estimated at ₹10,18,000 crores in fiscal 2024, reflecting a CAGR of 10.8% vs. fiscal 2019. The high growth is driven by rising disposable incomes, urbanisation, lifestyle changes, nuclearisation, and a growing workforce, particularly among women. The packaged food market remains stable throughout the year, as demand is primarily driven by regular consumption rather than seasonal fluctuations.

The packaged spices market constitutes a 40% share of the domestic spices market and was valued at ₹34,500 crores in fiscal 2024. This market has grown at a CAGR of approximately 13.3% since fiscal 2019 and is projected to reach ₹61,500 crores by fiscal 2029, representing a 45% share.

About Orkla India

Orkla India is a multi-category Indian food company with a legacy spanning several decades, offering a diverse range of products that cater to every meal occasion, from breakfast and lunch to dinner, snacks, beverages, and desserts. According to the Technopak Report, in fiscal 2024, they were one of the top four companies in terms of revenue from operations among select leading spices and convenience food peers.

The key product categories they offer are spices (comprising blended and pure spices) and convenience foods (comprising ready-to-cook (RTC), ready-to-eat (RTE) foods, and vermicelli, among others). They have cultivated an understanding of the local South Indian taste palate over several decades of operation. To cater to consumers’ diverse taste preferences, they have built a repository of over 4,000 recipes through collaboration and engagement with local communities, food historians, and chefs.

Strengths of Orkla IPO

• Category market leader with the ability to build and scale household food brands through an in-depth understanding of local consumer tastes.
  
• Multi-category food company with a focus on product innovation.
  
• Extensive distribution infrastructure with deep regional network and wide global reach.
  
• Efficient, large-scale manufacturing with stringent quality control and a robust supply chain.
  
• Experienced and tenured management team supported by strong global parentage.
  
• Capital efficient business model with a track record of delivering profitable growth.
  

Risks of Orkla IPO

• Volatility in the pricing of raw materials and packaging materials.
  
• Improper processing or storage of their products or raw materials, or spoilage of and damage to such products or raw materials, or any real or perceived contamination in their products or raw materials.
  
• Any slowdown or interruption to their manufacturing operations or under-utilisation of their existing or future manufacturing facilities.
  
• Any loss of raw material suppliers or interruptions in the timely delivery of supplies.
  
• Any delay or default in payments from their distributors or retailers.
  
• Unfavourable climate change and weather patterns may impact their ability to procure raw materials.
  
• The non-availability of contract workers at a reasonable cost or increased wage demands.
  
• Any shortage or non-availability of power, fuel, and water at a reasonable cost and in a timely manner.
  

#Details of total income, face value and EPS (Basic and Diluted) is derived from the audited financial statements for year ended March 2025. Closing market price as on October 20, 2025 is taken from the NSE website. Notes for Listed Peer:

• Total income (for the year ended March 31, 2025) includes Revenue from operations and Other income.

• The financial information for the listed peer mentioned above is on a consolidated basis and is sourced from the annual report of the company for the financial year ended March 31, 2025 submitted to stock exchanges.

• P/E has been computed based on the closing market price on NSE as on October 20, 2025 divided by the Diluted EPS for the year ended March 31, 2025.

• Weighted average = Aggregate of year-wise weighted EPS divided by the aggregate of weights i.e. (EPS x Weight) for each year/Total of weights.

• Basic EPS (₹) = Basic earnings per share are calculated by dividing Profit for the year attributable to equity shareholders by the weighted average number of Equity Shares outstanding during the year.

• Diluted EPS (₹) = Diluted earnings per share are calculated by dividing Profit for the year attributable to equity shareholders by the weighted average number of Equity Shares outstanding during the year as adjusted for the effects of all dilutive potential Equity Shares outstanding during the year.

• Weighted average number of Equity Shares is the number of Equity Shares outstanding at the beginning of the year adjusted by the number of Equity Shares issued during the year multiplied by the time weighting factor. The time weighting factor is the number of days for which the specific shares are outstanding as a proportion of total number of days during the year.

• Return on Net Worth (%) = Profit for the year ended March 31, 2025 attributable to equity shareholders/Net Worth at the end of the year.

• Net Worth has been computed as equity share capital instruments entirely in the nature of equity and other equity but excludes non-controlling interest.

• Net Asset Value per Equity Share = Net Worth / Number of equity shares and instruments entirely equity in nature outstanding as at the end of the year.

Anchor Investor Bidding Date: Tuesday, 28 October 2025

Registrar: KFin Technologies Limited
Book Running Lead Managers:
ICICI Securities Limited
Citigroup Global Markets India Private Limited
J.P. Morgan India Private Limited
Kotak Mahindra Capital Company Limited

Orkla India Business Model

The company earns its revenue through offering a diverse range of products that cater to every meal occasion, from breakfast and lunch to dinner, snacks, beverages, and desserts.

Orkla India Growth Trajectory

The company’s total income increased by 2.8% to ₹2,455.24 crores in fiscal 2025 from ₹2,387.99 crores in fiscal 2024.

Their total revenue from operations increased by 1.6% to ₹2,394.71 crores in fiscal 2025 from ₹2,356.01 crores in fiscal 2024, primarily due to:

Sale of products: Sale of products increased by 1.5% to ₹2,358.32 crores in fiscal 2025 from ₹2,322.39 crores in fiscal 2024. This was driven by an increase in sale of stock-in-trade by 134.0% to ₹255.32 crores in fiscal 2025 compared to ₹109.13 crores in fiscal 2024, primarily due to an increase in outsourcing of manufacturing to third-party contract manufacturers in relation to certain products in their Spices category, such as chilli and turmeric.

Their restated profit for the year increased by 13.0% to ₹255.69 crores in fiscal 2025 compared to ₹226.33 crores in fiscal 2024.

Orkla India Market Position

According to the Technopak Report, in fiscal 2024, Orkla India was one of the top four companies in terms of revenue from operations among select leading spices and convenience food peers. The company’s portfolio comprises over 400 products across categories like Spices (comprising blended and pure spices), and Convenience Foods (comprising ready-to-cook (“RTC”), and ready-to-eat (“RTE”) foods and Vermicelli, among others). As of March 31, 2025, the company sold approximately 2.3 million units on average every day as of 30 June 2025.

As of 31st March, 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹2455.240 crores, ₹255.690 crores, and ₹396.440 crores, respectively.

How to check the allotment status of Orkla IPO?

1. Visit the Registrar's Website

To check the IPO allotment status for Orkla India IPO, visit the official website of KFin Technologies Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
  
• Choose 'Orkla India' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search'
  

Your Orkla IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Orkla India IPO allotment status.

Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
  
• PAN
  

Then click 'Submit'. Your Orkla India IPO bid and allotment details will be displayed.

How to apply for Orkla IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.