The IPO of Orkla India will open for subscription on October 29 and close on October 31.
The company has offered to sell 2.28 crore shares worth up to Rs 1,667 crore via an offer for sale. Promoter Orkla Asia Pacific, along with public shareholders Navas Meeran and Feroz Meeran, will participate in the OFS.
The price band for the IPO has been set at Rs 695 to Rs 730 per share.
The minimum bid lot size is 20 shares, requiring an investment of Rs 13,900 at the lower price band and Rs 14,600 at the upper price band.
ICICI Securities Ltd., Citigroup Global Markets India Pvt., J.P. Morgan India Pvt., and Kotak Mahindra Capital Co. are the lead book running managers to the IPO and Kfin Technologies Ltd. is the registrar of the issue.
Since it is an OFS, the company will not receive any proceeds from the IPO, and the entire amount of money will go to the selling shareholders.
The company will invite bids from large institutions via the anchor round on October 28.
The allotment of Orkla India shares to IPO investors will be done tentatively on November 3. Shares of Orkla India are set to denut on the BSE and NSE on November 6.
Refer to Orkla India’s IPO RHP document here for more details.
