MTR Foods (Orkla India) IPO
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MTR Foods (Orkla India) IPO details
Schedule of MTR Foods (Orkla India)
| Issue open date | 29 Oct 2025 |
| Issue close date | 31 Oct 2025 |
| UPI mandate deadline | 31 Oct 2025 (5 PM) |
| Allotment finalization | 03 Nov 2025 |
| Refund initiation | 04 Nov 2025 |
| Share credit | 04 Nov 2025 |
| Listing date | 06 Nov 2025 |
| Mandate end date | 15 Nov 2025 |
| Lock-in end date for anchor investors (50%) | 03 Dec 2025 |
| Lock-in end date for anchor investors (remaining) | 01 Feb 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About MTR Foods (Orkla India)
Orkla India Foods Private Limited is a leading Indian food company, known for its iconic brands MTR and Eastern, with deep roots in South Indian culinary traditions. Headquartered in Bengaluru, the company offers a wide portfolio of over 400 products, including blended and pure spices, ready-to-cook mixes, and convenience foods like instant dosa and poha. As of FY25, it distributes an average of 2.3 million units daily across India and exports to over 40 countries. With a strong presence in Karnataka, Kerala, Andhra Pradesh, and Telangana, the company leverages its owned and contract manufacturing network—spanning India, UAE, Thailand, and Malaysia—to deliver authenticity and scale. Backed by Norwegian parent Orkla ASA, it benefits from global expertise in governance, sustainability, and innovation.
Financials of MTR Foods (Orkla India)
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹1667.54 crores |
| Offer for Sale | ₹1667.54 crores |
Strengths
- Category leader in packaged spices with strong brands, local taste expertise, and scalable distribution.
- Multi-category food company with a strong innovation engine and a track record of trend-led product launches.
- Extensive pan-India and global distribution with strong regional reach and growing digital, e-commerce, and export channels.
- Flexible, automated manufacturing with strict quality controls and a tech-driven, cost-efficient supply chain.
- Experienced leadership team backed by Orkla ASA’s global expertise, driving operational excellence, innovation, and a culture of inclusivity and growth.
- Capital-efficient business with consistent revenue growth – revenue from operations rose from ₹21,724.8 million in FY23 to ₹23,947.1 million in FY25.
Risks
- Raw and packaging materials formed 56.8% of FY25 expenses; price swings may affect profitability.
- Product contamination or poor storage could trigger regulatory action and reputational damage.
- Dependence on key suppliers may cause supply disruptions or price volatility, hurting operations.
- Failure to scale distribution or adapt to channel shifts could reduce sales and profitability.
- Labour shortages, strikes, or higher wages may disrupt operations and impact financials.
- Payment delays or defaults from distributors or retailers could strain cash flows.
- Exports formed 20.6% of FY25 sales; global regulatory or operational issues may affect growth.
Allotment Status for MTR Foods (Orkla India)
To check your allotment status – click here.
Subscription Figures for MTR Foods (Orkla India)
As per media reports (Link), the Grey Market Premium (GMP) of Orkla India is reported at ₹84 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on October 31, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 45.63 | 5367.11 | 117.63x |
| NII | 34.22 | 1862.16 | 54.42x |
| Retail | 79.85 | 563.86 | 7.06x |
| Employees | 0.30 | 4.54 | 15.12x |
| Total | 159.99 | 7797.67 | 48.74x |