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Orkla India files for IPO, no fresh issue

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BENGALURU: Orkla India, formerly known as MTR Foods, filed its draft red herring prospectus (DRHP) with Sebi for an initial public offer (IPO) consisting entirely of an offer for sale of up to 2.2 crore equity shares. There is no fresh issue component in the proposed IPO. Its heritage brand, MTR Foods, spans 100 years of serving authentic Indian cuisine. According to the DRHP filed, the offering will consist of secondary share sales by the company’s promoter and shareholders. The promoter entity, Orkla Asia-Pacific, will offload up to 2 crore shares, while existing shareholders Navas Meeran and Feroz Meeran will each sell up to 11.4 lakh shares. Orkla India was rebranded from MTR Foods following restructuring and internal mergers.

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