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.
Trending
- Whopping $82.3 billion cost? Donald Trump’s tariffs may hit US employers in a big way, says JPMorganChase Institute analysis
- Kuwait’s e-permit exit rule: Expat workers need employer’s nod to fly out; how to obtain it?
- IT sector Q1 results: Muted quarterly earnings likely for India’s IT giants as deal momentum slows; mid-tier players to shine
- Oracle stock surges: Hits record high on $30 billion cloud deal; revenue to flow from FY28
- New strategic oil reserves planned! India looks to boost emergency stockpile of petroleum; aims to strengthen energy security
- HDB Financial Services share price today: HDFC Bank subsidiary becomes 8th most valuable NBFC; market cap at Rs 70,200 crore
- Cheer for middle class soon? After income tax relief, GST rates may come down on household items, say reports
- Festive retail strategy: Brands go big on discounts; hope early season boosts sentiment
- US plans ‘economic bunker buster’ bill: Will Donald Trump impose 500% tariff on countries importing oil from Russia? How it may impact India
- Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook