Orkla Eyes $400M IPO for Indian Business

29 Nov 2024 , 01:45 PM

According to news reports, Norway’s Orkla ASA is thinking of raising up to $400 million through an IPO of its Indian business next year.

According to the reports, Orkla may submit an IPO application in Mumbai as early as the following quarter. According to the reports, the Oslo-based business is collaborating with advisors on the possible share sale.

According to the reports, discussions are still going on and the offering’s specifics, including its size and timing, might change.

According to an Orkla representative who talked to ET, the company is considering the potential of entering the Indian capital market, and the outcomes of the IPO preparations are promising. According to him, the corporation is weighing its options and anticipates reaching a decision in 2025, he told Bloomberg News.

Orkla owns Eastern Condiments, which it acquired a majority share in in 2021, and MTR Foods, a manufacturer of spices and prepared foods in India.

To benefit from India’s high valuations, a number of international companies are listing their Indian subsidiaries. In the largest initial public offering (IPO) in South Korea’s history, Hyundai Motor Co.’s Indian division raised $3.3 billion in October. According to Bloomberg, LG Electronics Inc. intends to float its local division in order to raise up to $1.5 billion.

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