Parent company of MTR Foods plans to raise Rs 1,667 crore through an offer for sale as it introduce its IPO, with no new shares being issued
Orkla India, the parent company of MTR Foods, has set a price band of Rs 695–Rs 730 per share for its initial public offering (IPO), aiming to raise Rs 1,667 crore. The entire issue comprises an offer for sale by existing shareholders Orkla Asia Pacific, along with Navas Meeran and Feroz Meeran, with no fresh issue of shares.
Half of the shares on offer are earmarked for qualified institutional buyers (QIBs). Non-institutional investors can bid for 15 per cent of the issue, while retail investors will have access to the remaining 35 per cent.
The company’s portfolio spans meals and snacks consumed at various times of the day, from breakfast and lunch to dinner, beverages and desserts. Its flagship brands, MTR and Eastern (Eastern Condiments), operate primarily in two categories: spices and convenience foods. Spices account for 67 per cent of the business, whereas convenience food products make up the remaining 33 per cent.
For the financial year ending March 2025, Orkla India reported revenue of Rs 2,455 crore and a profit after tax (Pat) of Rs 255.7 crore. In FY24, the company had posted revenue of Rs 2,388 crore and Pat of Rs 226.3 crore.
India’s packaged food industry was valued at Rs 10.18 trillion in FY24, marking a compound annual growth rate (CAGR) of 10.8 per cent over FY19.
