Orkla India IPO Debut on NSE and BSE
[translate:The Rs 1,667-crore IPO, which was subscribed 48.73 times between October 29–31,] saw shares listed at Rs 750.10 each on the NSE, reflecting a 2.75% premium over the issue price band of Rs 695–730 per share, according to News.Az citing foreign media.
On the Bombay Stock Exchange (BSE), Orkla India shares opened at Rs 751.50 each, a 2.95% premium. This gave the company a post-listing market capitalization of Rs 10,294.74 crore.
Earlier, the company raised approximately Rs 500 crore from anchor investors.
The debut listing was below grey market expectations, which had forecast gains near 9%.
Expert Insight
Prashanth Tapse, Senior Vice-President (Research) at Mehta Equities, stated, "[translate:Orkla India, backed by strong brands such as MTR and Eastern, presents a compelling long-term structural growth story.]”
Tapse also noted the strong subscription rate demonstrates investor trust in the company's fundamentals and its potential to capitalize on growing demand for convenience foods in key southern markets.
Summary
Orkla India's IPO attracted substantial investor demand and debuted with modest gains, reflecting confidence in its brands and growth prospects in the convenience foods sector.
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