<p>New Delhi: Orkla India, which owns spices and condiments brands MTR and Eastern, has filed preliminary papers with markets regulator Sebi for an initial public offering (IPO).</p>.<p>The company's IPO is a complete offer for sale (OFS) of 2.28 crore equity shares by promoter and other shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday.</p>.<p>Under the OFS, promoter Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran are offloading shares.</p>.Water purifier firm Kent RO, Karamtara Engineering, 2 others get Sebi nod to float IPOs.<p>At present, the promoters -- Orkla Asia Pacific Pte Ltd and Norwegian industrial investment company Orkla ASA -- hold 90 per cent stake, while Navas Meeran and Feroz Meeran own 5 per cent stake each in the company.</p>.<p>Since it is an OFS, the company will not receive any proceeds from the IPO and the entire money will go to the selling shareholders.</p>.<p>Orkla India, formerly known as MTR Foods, is a multi-category Indian food company. It manufactures products such as spices and masalas, ready-to-eat sweets and breakfast mixes, under prominent brands such as MTR, Rasoi Magic, and Eastern.</p>.<p>The company sells its products under the brands MTR and Eastern.</p>.<p>According to Technopak report, the Indian packaged food market was estimated at Rs 10.18 lakh crore in FY24, reflecting a CAGR of 10.8 per cent compared to FY19.</p>.<p>ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company are the book-running lead managers to the issue.</p>.<p>In March, Orkla India appointed four independent directors as part of restructuring of its board.</p>
<p>New Delhi: Orkla India, which owns spices and condiments brands MTR and Eastern, has filed preliminary papers with markets regulator Sebi for an initial public offering (IPO).</p>.<p>The company's IPO is a complete offer for sale (OFS) of 2.28 crore equity shares by promoter and other shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday.</p>.<p>Under the OFS, promoter Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran are offloading shares.</p>.Water purifier firm Kent RO, Karamtara Engineering, 2 others get Sebi nod to float IPOs.<p>At present, the promoters -- Orkla Asia Pacific Pte Ltd and Norwegian industrial investment company Orkla ASA -- hold 90 per cent stake, while Navas Meeran and Feroz Meeran own 5 per cent stake each in the company.</p>.<p>Since it is an OFS, the company will not receive any proceeds from the IPO and the entire money will go to the selling shareholders.</p>.<p>Orkla India, formerly known as MTR Foods, is a multi-category Indian food company. It manufactures products such as spices and masalas, ready-to-eat sweets and breakfast mixes, under prominent brands such as MTR, Rasoi Magic, and Eastern.</p>.<p>The company sells its products under the brands MTR and Eastern.</p>.<p>According to Technopak report, the Indian packaged food market was estimated at Rs 10.18 lakh crore in FY24, reflecting a CAGR of 10.8 per cent compared to FY19.</p>.<p>ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company are the book-running lead managers to the issue.</p>.<p>In March, Orkla India appointed four independent directors as part of restructuring of its board.</p>