Overview
- By Thursday evening, bids reached 2.70 times the offer, led by 7.59x NII and 2.11x retail subscriptions, while QIB interest stood at 6%.
- The price band is set at Rs 695–730 per share, implying a valuation of roughly Rs 10,000 crore at the top end.
- The issue size totals about Rs 1,667–1,668 crore and comprises 2.28 crore shares offered by promoter Orkla Asia Pacific and existing shareholders including Navas and Feroz Meeran.
- Orkla India raised nearly Rs 500 crore from anchor investors ahead of the launch, with participants including Nippon Life India and Nomura.
- Grey market quotes near Rs 798 suggest an indicative 8–9% listing premium, which remains unofficial, with allotment due Nov 3 and listing slated for Nov 6 on BSE and NSE.