MTR parent eyes ₹10K-cr valuation in ₹1,667-cr IPO

OFS opens next week; MD says readying war chest for acquisitions

- NESIL STANEY & VIVEAT SUSAN PINTO

ORKLA INDIA, BEST-KNOWN for its MTR and Eastern food brands, will raise up to ₹1,667 crore in an offer for sale (OFS) that will open on October 29, it said on Friday.

The initial public offering (IPO), which will close on October 31 (for retail investors), will see the company offer as many as 22.84 million shares in a price band of ₹695-730 apiece. For anchor investors, the IPO will open a day earlier on October 28. At the current price band, the company’s valuation will be ₹10,000 crore.

Thisisthe second OFSwithin weeks of South Korean major LG India's market debut this month which tooka similar route.