Overview

• Orkla India filed its draft red herring prospectus with Sebi on June 11, kicking off an initial public offering by way of offer for sale.
• The OFS comprises up to 2.28 crore equity shares valued at about Rs2,280 crore held by promoters Orkla Asia Pacific Pte, Orkla ASA, and private shareholders Navas and Feroz Meeran.
• As an offer for sale, Orkla India will not raise fresh capital and proceeds from the share sale will go entirely to existing shareholders.
• ICICI Securities, Citigroup Global Markets India, JP Morgan India and Kotak Mahindra Capital Company are acting as book-running lead managers for the transaction.
• Orkla India sells spices, masalas, ready-to-eat sweets and breakfast mixes under brands including MTR, Rasoi Magic and Eastern in a packaged food market estimated at Rs10.18 lakh crore in FY24.