Kickstarting the IPO fever for the week, we have the Orkla India IPO, which is scheduled to open for public bidding on October 29.
However, the window to pre-apply for the initial public offering (IPO) is open for investors, who can still make their bids before the official IPO open date.
Orkla IPO details:
The minimum investment to apply for the IPO is Rs 13,900 for 1 lot with 20 shares. With an issue size of Rs 1,667.54 crore, Orkla IPO will open for public bidding on October 29 and conclude on October 31. The price range is set at Rs 695-730.
The allotment of shares is expected to take place on November 3 and the listing of shares will tentatively take place on November 6.
As per multiple media reports and analysts, the grey market premium (GMP) for Orkla India IPO is around Rs 114 per share, indicating a 15 per cent gain for the IPO on listing.
About Orkla India:
The firm is a subsidiary of Orkla ASA, a Norway-based industrial investment company. Orkla India operates as a multi-category Indian food company involved in the manufacturing and sale of packaged food products.
The company operates through its two primary brands, MTR and Eastern and its portfolio includes around 400 products across two key segments: spices and convenience foods.
With a strong presence in the south Indian markets, the company also exports to 45 countries, including regions in the Gulf Cooperation Council (GCC), the US and Canada.