MTR Foods parent Orkla India drops 1.4% on debut

Orkla India

06/11/2025 05:10

Updates

** Orkla India ORKL.NS, parent of Indian ready-to-eat brand MTR Foods, drops 1.4% to 716.35 rupees after debuting 2.75% higher

** Stock opened at 750.1 rupees on NSE vs issue price of 730 rupees

** As of 10:35 a.m. IST, co valued at 98.39 billion rupees ($1.12 billion) vs $1.14 bln sought-out valuation

** IPO of Indian unit of Norwegian consumer goods group Orkla ORK.OL pure offer for sale; subscribed 48.73x, garnering bids worth 569.15 bln rupees at the upper end of price band of 695-730 rupees

** Anchor investors bought shares worth ~5 billion rupees

** Broader markets rise on strong quarterly results of three blue-chip cos, four local firms entering key MSCI index .BO

($1 = 87.8950 Indian rupees)

 (Reporting by Manvi Pant)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))