Orkla India’s IPO: A Big Step Forward
Understanding the IPO Process
Orkla India, previously known as MTR Foods, has made a significant move. The company has filed papers for an Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI). This IPO is unique because it only involves the sale of existing shares. No new shares will be issued.
The Story Behind Orkla India
Orkla India is renowned for its brand, MTR Foods. This brand has been delighting people with delicious Indian food for over a century. It’s a trusted and beloved name in many households.
Key Points of the IPO
The IPO will feature:
- Sale of up to 2.2 crore equity shares
- No new shares will be issued
These shares will be sold by:
- The company’s promoter, Orkla Asia-Pacific, offering up to 2 crore shares
- Existing shareholders Navas Meeran and Feroz Meeran, each selling up to 11.4 lakh shares
What’s in a Name?
Orkla India was formerly known as MTR Foods. The name changed after some restructuring and internal mergers. But rest assured, the taste and quality of their products remain unchanged!
