Orkla India IPO listing: MTR Foods owner shares debut at 3% premium, below estimates

Meanwhile, the equity benchmark Sensex and Nifty were trading flat with a negative bias. The Sensex was down 67 points at 83,392, while the Nifty50 slipped 0.26% to the 25,530 level.

The listing of Orkla India shares was not on par with Street expectations. After garnering a strong response for its ₹1,667.54-crore IPO, Orkla India was commanding a grey market premium (GMP) of 13% in the unlisted market. In the last few days, the Orkla India ipo gmp dropped to 9%, indicating a listing around ₹796 per share.

Prashanth Tapse, Senior VP (Research) at Mehta Equities, in his pre-listing view, expected a decent listing gain of around 10–12% on the issue price. “Despite the IPO being a 100% Offer for Sale (OFS), the issue witnessed subscription demand above Street expectations, reflecting strong investor interest. While considering the current muted market sentiment, Mehta Equities expects a decent listing gain of around 10–12% on the issue price, which aligns with earlier projections,” he said.