Orkla India IPO Listing Date And Latest GMP Ahead Of Market Debut This Week

IPO listing of Orkla India Ltd. will be in focus as investors await the company's debut on the stock market. Shares of Orkla India will list on the NSE and BSE on November 6.

The initial public offering (IPO) of Orkla India Ltd. closed with a strong subscription on the last day of bidding on Friday. The mainboard IPO was oversubscribed 48.73 times on the third and final day, with investors bidding for 77.97 crore shares against the 1.6 crore shares on offer, according to BSE data.

The share allotment status for the Orkla India IPO was finalised on Monday, November 3. Successful bidders can expect the shares to be credited to their demat accounts on Tuesday, November 4. Since the stock market was shut on November 5 for Guru Nanak Jayanti, the stock will debut on Thursday.

The unlisted shares of Orkla India Limited have been trading at a premium in the grey market, indicating positive listing gains for investors. The Grey Market Premium (GMP) for the public issue has declined consistently since the subscription concluded on October 31.

Here’s a look at what the latest market trends indicate for the Orkla India IPO.

The Grey Market Premium (GMP) for the Orkla India IPO was Rs 68 as of 7:30 a.m. on November 6. This indicates a potential listing price of Rs 798 (Rs730 + Rs68) per share, representing a premium of 9.32% over the upper limit of the price band.

This is the lowest GMP recorded for the IPO. The grey market premium has slid over the last few days. The mainboard offer had recorded a GMP of Rs 95 on the final day of subscription, which later declined to Rs 72 on November 3.

Private market investors will continue to monitor the GMP trends as the mainboard issue is set to debut on the market today.

Note: GMP is not an official source of data and is based on speculation. GMP data sourced from Investorgain.

Orkla India IPO, worth Rs 1,667.54 crore, was a 100% offer-for-sale comprising 2.28 crore equity shares. The IPO was a book-built issue, with the price band fixed at Rs 730 per share at the upper end. The issue opened for public subscription on October 29 and closed on October 31.

Incorporated in 1996, Orkla India offers a diverse range of food products, including spices. It owns leading brands like MTR Foods, Eastern Condiments and Rasoi Magic.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.