Orkla India, the maker of the iconic MTR Foods brand, is set to make its public market debut on November 6, marking its first listing since entering India 17 years ago. The move, structured as an Offer for Sale (OFS), is aimed at establishing the company’s valuation and enabling future strategic acquisitions.
The listing represents a rare public market entry by a foreign-owned Indian food company. Orkla India is the local arm of Norway’s Orkla ASA, which holds a majority stake through Orkla Asia Pacific. The company is targeting a valuation of around ₹10,000 crore at the upper end of its IPO price band of ₹730 per share. The ₹1,667-crore issue will comprise a sale of up to 2.2 crore shares, entirely through the OFS route.
“We are a cash-generating company and don’t require a primary issue,” said Sanjay Sharma, MD & CEO of Orkla India, in an interview with The Times of India. “This listing is not an exit — it’s a reaffirmation of our commitment to India. By going public, we aim to accelerate value creation and tap into the immense Indian consumption story.”
Sharma added that the company now feels “much more secure and confident” about its growth journey in India, emphasizing plans to pursue acquisitions “in any part of the country.”
Over the years, Orkla India has strengthened its portfolio through acquisitions, expanding beyond MTR Foods into Eastern Condiments and Rasoi Magic, covering key categories such as spices, convenience foods, and ready meals.
The public listing is expected to bolster Orkla India’s market position, enhance transparency, and provide greater financial flexibility for scaling its operations in one of the world’s fastest-growing food markets.