Orkla India Lists on NSE, BSE at a Premium of Nearly 3% Over IPO Price

Orkla India commenced trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Thursday, marking its entry into the public market. The stock listed at Rs 750.10 on the NSE, representing a premium of 2.75 percent over its IPO price. On the BSE, the shares opened at Rs 751.50, a slightly higher premium of 2.95 percent. The company successfully raised Rs 1,667 crore through its IPO, which saw an overwhelming subscription of 48.73 times its offering. The IPO had a price band set between Rs 695 and Rs 730 per share. The listing gains were modest compared to grey market expectations, which had anticipated around 9 percent premium.

Post-listing, Orkla India's market capitalization stood at approximately Rs 10,294.74 crore. The company had previously raised about Rs 500 crore from anchor investors.

**Impact** This listing provides Orkla India with significant capital to fuel its growth and enhance its market presence in the convenience food sector. For investors who participated in the IPO, the initial premium offers a positive return, while new investors can assess the stock's performance post-listing. The company's performance will be closely watched, especially given its strong brand portfolio including MTR and Eastern.

**Definitions** * **IPO (Initial Public Offering):** The process by which a private company offers its shares to the public for the first time to raise capital. * **Grey Market:** An unofficial market where IPO shares are traded before their official listing on stock exchanges. Prices here can sometimes indicate market sentiment towards a new issue. * **Market Capitalization:** The total value of a company's outstanding shares in the stock market, calculated by multiplying the share price by the total number of shares.