Orkla India Shares Debut on Stock Market
Orkla India shares made a modest debut on the National Stock Exchange (NSE), listing at Rs 750.10 each, reflecting a 2.75% premium over the IPO price band of Rs 695–730 per share. The Rs 1,667-crore IPO was subscribed 48.73 times from October 29 to 31.
On the Bombay Stock Exchange (BSE), shares opened at Rs 751.50, 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 debut underperformed compared to grey market expectations, which predicted gains of approximately 9%.
Prashanth Tapse, Senior Vice-President (Research) at Mehta Equities, said,
Orkla India, backed by strong brands such as MTR and Eastern, presents a compelling long-term structural growth story.He added that the strong subscription indicates investor confidence in the company’s fundamentals and its potential to capitalize on increasing demand for convenience foods in key southern markets.
Overall, Orkla India's IPO and listing demonstrate solid investor trust and highlight growth prospects in the convenience foods sector.
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