LIVE: Orkla India Shares Slide 7% After Listing at 3% Premium to Issue Price

An hour after listing, Orkla India shares extended their losses, trading at Rs 697.15 on the BSE, down 7.23%. On the NSE, the stock was quoting at Rs 702.85, lower by 6.39%. The muted debut showed the stock trading at Rs 723.20 on the BSE and Rs 720.50 on the NSE, both down about 3-4%. The pre-open saw a 2.95% increase from the issue price on the BSE. The secondary market predicted a 9% premium before listing. The strong IPO subscription led to 48.74 times oversubscription, with retailers at 7.06 times. The grey market placed the share price at a 9% higher premium of Rs 66. ICICI Securities and Kfin Technologies led the public issue. While Orkla India’s market debut was anticipated with excitement, it is a complete Offer for Sale, offering no funds to the company itself but benefiting selling shareholders greatly. For FY25, revenue stood at Rs 2,394.7 crore, with positive margins. Orkla India’s brand presence in southern India is strong, with expansion plans in other regions underway. Founded in 1996, the company holds popular brands like MTR Foods and aims for a successful listing in both NSE and BSE on November 6.