The initial public offering (IPO) of Orkla India Limited (OIL), the company behind popular brands like MTR and Eastern, is set to open tomorrow, October 29, 2025. The company aims to raise ₹1,667.54 crore through this IPO, which will close on October 31, 2025. Here are ten key things to know before you consider investing:

1. Issue Details: The Orkla India IPO is entirely an offer for sale (OFS) of 22.8 million equity shares. This means the company will not receive any proceeds from the IPO, as the money will go to the selling shareholders, including promoter Orkla Asia Pacific, Navas Meeran, and Feroz Meeran.

2. Price Band and Lot Size: The price band for the IPO is set at ₹695 to ₹730 per share. The lot size is 20 shares, requiring a minimum investment of ₹14,600 at the upper price band for retail investors.

3. IPO Dates: * Subscription Period: October 29 - October 31, 2025 * Allotment Finalization (Tentative): November 3, 2025 * Demat Credit (Tentative): November 4, 2025 * Listing Date (Tentative): November 6, 2025 on NSE and BSE

4. Grey Market Premium (GMP): As of October 28, 2025, the Grey Market Premium (GMP) for Orkla India's IPO is around ₹106 per share. This suggests a potential listing price of around ₹836, a 14.5% gain over the upper price band of ₹730. Note that GMP is speculative and not an official indicator.

5. Anchor Investors: The company will invite bids from large institutions via the anchor round on October 28, 2025.

6. Book Running Lead Managers & Registrar: ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company are the book-running lead managers for the IPO, while Kfin Technologies is the registrar.

7. Company Overview: Orkla India is a prominent player in the Indian packaged foods market with well-known brands like MTR, Eastern Condiments, and Rasoi Magic. They offer a diverse portfolio of over 400 products, including spices, ready mixes, beverages, and ready-to-eat meals. The company serves over 2.3 million units daily across India and exports to 42 countries. As of June 30, 2025, Orkla India has nine manufacturing facilities across India and additional contract manufacturing operations in the UAE, Thailand, and Malaysia.

8. Financial Performance: Orkla India has demonstrated consistent revenue growth. The company's revenue grew by 1.6% YoY in FY25 to ₹2,394.7 crore, with a restated profit of ₹255.69 crore, a 12.9% YoY increase. Over the last three years, Orkla has delivered Sales/Ebitda/PBT CAGR of 5 percent/12.9 percent/22.9 percent, respectively. As of FY25, Orkla India recorded an adjusted EBITDA margin of 16.6% and a PAT margin of 10.7%.

9. Allocation of Shares: The IPO has reserved not more than 50% of the shares for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for retail investors.

10. Key Strengths and Risks: * Strengths: Orkla India has strong market leadership in spices, a diversified product portfolio, operational effectiveness, export presence, and strong parental support from Orkla ASA. The company is virtually debt-free, has healthy return ratios and margins, and generates stable cash flows. * Risks: The company faces risks related to commodity price volatility, regulatory scrutiny, regional concentration (70% of sales from South India), and dependence on key suppliers.

Analysts' Views: Analysts have mixed opinions on the IPO. SBI Securities has assigned a 'Neutral' rating, while Arihant Capital recommends "Subscribe for long term", citing the company's capital efficiency, debt-free status, and consistent cash flow generation.