For investors, it can be quite challenging to decide if the Orkla India IPO is a good investment. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Orkla India IPO. This will help you analyze the strengths, risks, and financial details of the company, improving your investment decision.
About Company
Incorporated in 1924, Orkla India was initially known as MTR Foods Private Limited is one of the growing multi-category Indian food company known for offering wide range of products that serves every meal including breakfast, lunch, and dinner to snacks, beverages, and desserts.
Its main aim is to offer products inspired by South Indian Cuisine giving them authentic taste and traditional recipes. The company’s portfolio includes a wide range of spices such as Sambar Masala, Chicken Masala, Puliogare Masala, Rasam Masala, and Meat Masala, in blended spices, Chilli, Kashmiri Chilli, Turmeric, Coriander, Cumin, and over 400 products across various categories. The company sells its products under the brands MTR and Eastern.
They also offer Convenience Food Products such as Gulab Jamun Mix, Rava Idli Mix, 3-Minute Poha, and Dosa Mix that will allow simple and tasty cooking preparation in no time. As of now, the company comprises 843 distributors and 1800 sub-distributors spanning 28 states and 5 union territories.
Strengths
- One of the leading Multi-category companies with a constant aim on product innovation.
- The company has little to no debt remaining.
- Orkla India is a category market leader with an expertise in developing and growing popular food products by understanding the local customer tastes.
- The company is backed by a strong global parent company and an experienced management team who have over 32 years of experience in the marketing and fast moving consumer goods sectors.
Weaknesses
- The changes in raw materials and fluctuation in packaging prices might impact the business, cash flow and overall performance.
- Any slowdown or shutdown of its manufacturing factories happens can hurt the business and profits.
- The business mostly depends on top 10 suppliers for raw materials. If they lose any of those suppliers or face delays in supply can negatively affect the cash flow, business and financial performance.
- Failure to grow or manage its retailers or distributors can affect the business and finances.
- Over the last 3 years, the company has had a low return on equity of 10.3%.
Orkla India IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Capital Market | Neutral |
| Axis Capital | |
| Emkay Global | |
| Hem Securities | |
| IDBI Capital | |
| Marwadi Shares | |
| Nirmal Bang | |
| SBICAP Securities | |
| Sharekhan | |
| SMC Global | |
| Sushil Finance | |
| Swastika Investmart | |
| Ventura Securities | |
| Geojit | |
| Reliance Securities | |
| Canara Bank | |
| BP Wealth | |
| ICICIdirect | |
| Choice Broking |
Orkla India IPO Details
| IPO Open Date: | October 29, 2025 |
| IPO Close Date: | October 31, 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹695 to ₹730 Per Share |
| Issue Size: | Approx ₹1,667.54 Crores |
| Offer-for-Sale: | up to 22,843,004 equity shares |
| Registrar | KFin Technologies Limited |
| IPO Lead Managers | ICICI Securities Limited Citigroup Global Markets India Private Limited J.P. Morgan India Private Limited Kotak Mahindra Capital Company Limited |
| Basis of Allotment | November 3, 2025 |
| IPO Listing Date: | November 6, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details 226
| Particulars | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Revenue from Operations | ₹605.38 Crores | ₹2,455.24 Crores | ₹2,387.99 Crores |
| EBITDA | ₹111.75 Crores | ₹396.44 Crores | ₹343.61 Crores |
| EBITDA Margin (%) | 18.7% | – | 18.2% |
| Profit After Tax (PAT) | ₹78.92 Crores | ₹255.69 Crores | ₹226.33 Crores |
| PAT Margin (%) | 13.2% | – | 12.8% |
| Net Worth | ₹1,931.12 Crore | ₹1,853.47 Crore | ₹2,201.48 Crore |
| Total Borrowings | ₹2.33 Crores | – | ₹3.77 Crores |
Key Indicators
| KPI | Values |
| RoNW | 13.8% |
| RoCE | 32.7% |
| Price to Book Value | 5.40 |
| Market Capitalization | 10000.21 |
| EBITDA Margin | 16.60% |
| PAT Margin | 10.70% |
Promoters & Track Records, if any
- The promoters of the company are Orkla Asa, Orkla Asia Holdings As and Orkla Asia Pacific Pte Ltd.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 13,69,89,230 | 90% |
| Promoter Holding Post Issue | 13,69,89,230 | -% |
Peer Comparison With the Company
| Name of the Company | Basic EPS (₹) | Diluted EPS(₹) | RONW (%) | P/E Ratio | NAV(₹) |
| Orkla India Limited | 18.7 | 18.7 | 13.8 | [●] | 135.3 |
| Listed Peers | |||||
| Tata Consumer Products Limited | 13.1 | 13.1 | 6.4 | 90.1 | 202.1 |
Industry Peer Group P / E ratio
The food and beverage industry P/E ratio remained constant, with the highest, lowest, and average all recorded at 90.1.
Expansion
- The proceeds raised from the fresh issue will be utilized for the Fees and commissions payable to the Book Running Lead Managers (including any underwriting commission, brokerage and selling commission).
- Some funds will be used towards the Advertising and marketing expenses for the Offer.
- A portion of the fund will be utilized Fees and commissions paid to banks and intermediaries involved in the offer.
- Some for the Cost of printing and distributing offer documents.
- A portion of the revenue for other costs such as listing fees, SEBI and exchange filing fees, software charges, and other regulatory expenses.
- Some funds will be used fees paid to auditors, accountants, company secretaries, and data providers for the offer.
- In order to Fees paid to legal advisors.
- Miscellaneous
Orkla India IPO – Should You Apply or Not?
Orkla India IPO features a Strong brand portfolio, wide product range, experienced management, leadership in the packaged foods and spices segment, and long-standing presence in the Indian Market. But, High dependence on suppliers, raw material price fluctuations, regulatory risk, and premium valuations are all major concerns of the company.
As of October 27, the GMP of the Orkla India is ₹160, showcasing a potential listing of around 11%-14%. Short-term investors may consider applying for the listing gains due to the attractive GMP and strong brand recognition. And cautious investors must carefully analyze the company’s financial background, risks, strengths, and market sentiment before subscribing.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
