Norway’s Orkla ASA company intends to launch a $400 Million IPO in Mumbai state but asked not to be named as the information is not yet public. Moreover, the business could be valued at more than $2 billion, according to one of the sources. However, it is yet to be confirmed so details and timing of this IPO could be changed.
Additionally, a Company spokesperson announced that Orkla is preparing to enter the Indian stock market evaluating its options, and expects a final decision, therefore it could have a chance of this IPO in the next year, the spokesperson told Bloomberg News.
Orkla owns MTR Foods in India, a producer of ready-to-eat meals and spices, and also acquired a controlling stake in Eastern Condiments in 2021.
Owing to the high value of companies in India, many international companies are offering their business shares in India through IPO. This allows them to grow money by selling shares at a higher price, according to Bloomberg.
Additionally, sources including Mint said earlier that Orkla made a plan to raise money through an IPO by selling shares to the public after it made some internal changes within the company.
Local investors have invested over $70 billion in the Indian share market even though the stock market has a high valuation nowadays. However, this slack period has taken away foreigners from India to China.
