MTR Owner Orkla India Files Draft IPO Papers With SEBI
Orkla India, the owner of spices and condiments brands MTR and Eastern, has filed preliminary papers for an initial public offering with the Securities and Exchange Board of India.
The IPO is a complete offer for sale of 2.28 crore equity shares by promoter and other shareholders, according to its draft red herring prospectus. Under the OFS, promoter Orkla Asia Pacific Pte along with shareholders Navas Meeran and Feroz Meeran are offloading shares.
NDTV Profit had reported in March that the company is expected to file for IPO as early as the first quarter of FY26.
Currently, the promoters—Orkla Asia Pacific Pte and Norwegian industrial investment company Orkla ASA—hold 90% stake in the company, while Navas Meeran and Feroz Meeran own 5% each.
Since it is an OFS, the company will not receive any proceeds from the IPO and the entire money will go to the selling shareholders.
Orkla India is a multi-category Indian food company. It manufactures products such as spices and masalas, ready-to-eat sweets and breakfast mixes, under prominent brands such as MTR, Rasoi Magic, and Eastern.
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