Orkla India Ltd Debut: A Spicy Start with Premium Listing

Shares of Orkla India Ltd, owning brands MTR and Eastern, listed with nearly a 3% premium against the issue price of Rs 730. The stock opened at Rs 751.50 on the BSE and Rs 750.10 on the NSE, post a successful IPO subscribed 48.73 times, with a market valuation of Rs 9,561.85 crore.

Shares of Orkla India Ltd, known for spice and condiment brands MTR and Eastern, made a strong stock market debut with a premium of nearly 3% over its issue price of Rs 730. On listing, the stock opened at Rs 751.50 at the Bombay Stock Exchange.

On the National Stock Exchange, Orkla India's shares started trading at Rs 750.10, reflecting a 2.75% premium. The initial public offering (IPO) of the company was well-received, being subscribed 48.73 times by investors last week.

Formerly known as MTR Foods, Orkla India is a multi-category food company in India with a valuation of Rs 9,561.85 crore. The Rs 1,667-crore IPO was purely an offer for sale by existing shareholders, with no fresh issue of shares.

(With inputs from agencies.)