Orkla said to consider $400 million IPO of Indian business
Orkla ASA is considering an initial public offering of its Indian business next year that could raise as much as $400 million, according to people familiar with the matter.
Orkla may file for an IPO in Mumbai as soon as next quarter, the people said, asking not to be identified as the information isn’t public. The Oslo-based company is working with advisers on the potential share sale, the people said. It could seek a valuation of over $2 billion for the unit, one of the people said.
Deliberations are ongoing and details of the offering such as size and timing may change, the people said.
An Orkla spokesman said the company is looking at the possibility of accessing the Indian capital market, adding that the results of the IPO preparations are encouraging. The company is assessing options and expects a conclusion on the matter to come during 2025, he told Bloomberg News.
Orkla owns India’s MTR Foods, a maker of ready meals and spices, as well as Eastern Condiments, in which it bought a controlling stake in 2021.
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