The Rs 1,667-crore initial public offering of Orkla India, the company which owns popular packaged food brands MTR, has been subscribed nearly 49 times its offer size (487.3 percent) on its third and final day of public bidding (October 31).

The maiden public issue of the company received bids for around 77.97 crore shares, as against the offer size of nearly 1.6 crore shares, according to data on NSE. Qualified Institutional Buyers (QIBs) led the subscription numbers, booking their reserved portion a whopping 117.63 times. Retail investors subscribed their reserved portion over 7 times. Non Institutional Investors (NII) have booked the portion kept for them 54.42 times.


A day before the IPO opened for public bidding, Orkla India announced that it has raised Rs 499.6 crore from 30 institutional investors via anchor book on October 28. Nippon Life India, Aditya Birla Sun Life AMC, Ashoka WhiteOak, Nomura Funds, Government Pension Fund Global, Jupiter Global Fund, Pinebridge Global Funds, Baroda BNP Paribas MF, LIC MF, and Edelweiss were the institutional investors who participated in the anchor book.

Tata Investment Corporation, Bajaj Finserv MF, Aurigin Master Fund, Viridian Asia Opportunities Master Fund, Societe Generale, and Copthall Mauritius Investment also invested in the company.