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Orkla India IPO GMP LIVE: The initial public offering (IPO) of Orkla India, which is the parent company of spice brand MTR and Eastern, opened for subscription on Wednesday, October 29. The subscription of Rs 1,667 crore Orkla India IPO will close on October 31. Previously known as MTR Foods, Orkla India company has decided a price band of Rs 695 to Rs 730 per share. It is targeting a valuation of around Rs 10,000 crore at the upper end.

The Orkla India IPO is entirely an offer for sale (OFS) of 2.28 crore equity shares by promoter and other shareholders. It does not inclue any fresh issue. The money raised from the IPO will be entirely transferred to the selling shareholders since the issue is an OFS.

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Orkla India IPO GMP LIVE

The Orkla India IPO grey market premium (GMP) was at Rs 66 (2: PM IST) as the subscription opened today. With this GMP, the estimated listing price of Orkla India shares stood at Rs 793, projecting a gain of 8.63 per cent.

Orkla India IPO Subscription Status

Orkla India IPO was subscribed 0.64 times by 3.24 PM IST on Day 1, according to chittorgarh.com. In the retail category, the IPO was subscribed 0.79 times. The public issue awaits subscription by Qualified Institutional Buyers (Ex Anchor). The IPO was over subscribed in Non-Institutional Investor (NII) category as it saw 1.11 times bidding.

Orkla India IPO Listing Date: Orkla India shares will debut on the stock exchanges NSE and BSE on November 6.

Orkla India IPO Lot Size: The lot size or the minimum number of shares that an investor can apply for is 20. A retail investor needs to invest Rs 14,600 (based on upper price) to buy a lot. For sNII, it is 14 lots, which will cost Rs 2,04,400. For bNII, it is 69 lots amounting to Rs 10,07,400.

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