Orkla India, headquartered in Karnataka, India, and known for its MTR and Eastern brands, has filed its Draft Red Herring Prospectus with SEBI to initiate an IPO. The offering, entirely an Offer for Sale (OFS), comprises 2.28 crore equity shares to be offloaded by promoters including Orkla Asia Pacific Pte, Navas Meeran, and Feroz Meeran. The company, a leader in the spice and convenience food sector, aims to list on both NSE and BSE.
Orkla India Pvt. Ltd. a Karnataka-based multi-category food company known for its iconic MTR Foods and Eastern brands, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The filing was made on June 10, 2025.
The IPO will be entirely an Offer for Sale (OFS) involving up to 2.28 crore equity shares. The selling shareholders include Orkla Asia Pacific Pte, along with individual stakeholders Navas Meeran and Feroz Meeran. As this is an OFS, no proceeds from the IPO will be received by the company itself.
The IPO structure will reserve 50% of shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail individual investors.
Orkla India, formerly known as MTR Foods, operates in the fast-moving consumer goods (FMCG) sector. It offers an extensive portfolio including breakfast mixes, spice blends, ready meals, desserts, and beverages. Its MTR and Eastern brands are well-established in both domestic and international markets. In Fiscal Year 2024, the company was among the top four in revenue among India’s leading spices and convenience food players. The Eastern brand has also been India’s largest exporter of branded spices for 24 consecutive years, holding a 22.2% share in the branded spices exports market.
The IPO is being managed by leading investment firms including ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company.
The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
