MTR Foods maker Orkla India heads for public debut after 17 years

Orkla India, the maker of popular ready-to-eat meals and dosa batter brand MTR Foods, is set to make its public market debut on November 6, 17 years after entering India, reported TOI. The move, an Offer for Sale (OFS), aims to establish the company’s valuation and enable more strategic acquisitions.

The listing marks a rare public market entry by a foreign-owned Indian food company. Orkla India, the local unit of Norway’s Orkla ASA, is targeting a valuation of Rs 10,000 crore at the upper end of its IPO price band of Rs 730 per share. The Rs 1,667-crore IPO will be entirely through an OFS of up to 2.2 crore shares, with Orkla ASA and selling shareholder Orkla Asia Pacific holding roughly 90% of the company.

Sanjay Sharma, MD & CEO of Orkla India, told TOI, “We are a cash-generating company. We do not need a primary. From that point of view, if we have to access the capital markets, the only route is through secondary. The objective of every MNC is to come to India to extract the value out of the India consumption story and by listing, we are going to accelerate the value creation. Many people think we are exiting India but it is a commitment to India. We are very clear that we are committing ourselves to India.”


Sharma added, “We are much more secure and confident about our journey in India. That is why we are doing the listing and now we are willing to do acquisitions in any part of the country.”

Orkla India has expanded its presence through acquisitions, building a portfolio that includes MTR Foods, Eastern, and Rasoi Magic across spices and convenience foods. The company plans to use its public listing to strengthen its position and pursue growth opportunities more competitively.

With inputs from TOI