MTR-Eastern Owner Files Papers for IPO, NSDL Gearing for Listing in July Orkla India, the owner of food brands MTR and Eastern, has submitted preliminary documents with SEBI and the NSDL is reportedly preparing for its much-anticipated initial public offering (IPO) in July 2025.
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Orkla India, the owner of food brands MTR and Eastern, has submitted preliminary documents with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Tuesday.
According to the draft red herring prospectus (DRHP) filed by the company, the public listing will be a complete offer for sale (OFS) of 2.28 crore equity shares. These shares will be sold by the share selling promoters, Orkla Asia Pacific Pte Ltd, including other shareholders Navas Meeran and Feroz Meeran.
Because of the nature of the IPO, the company will not raise any funds from the listing, with all the funds raised going to the shareholders selling their shares. As per its equity composition, 10 per cent of the company is equally owned by shareholders Navas Meeran and Feroz Khan, while Orkla Asia Pacific Pte Ltd and its parent company, Norwegian Industrial Group Orkla ASA).
Formerly known as MTR Foods, Orkla India is a company with diversified offerings with products including spices, ready-to-eat meals, and breakfast mixes under the brands MTR and Eastern.
ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company will be the book running lead managers (BRLMs) for the IPO.
The broader food processing industry in India (including packaged foods) hit INR 30.5 trillion, which is approximately USD 370 billion in 2024, and is expected to reach INR 65.2 trillion by 2033 with a compound annual growth rate (CAGR) of approximately CAGR 8.4% per cent, according to imarc.
The packaged food segment itself stood at INR 28 trillion in 2023, projected to rise to INR 61 trillion by 2032 with a CAGR of approximately 9.1 per cent, accorsding to Research and Markets.com data.
NSDL
The National Securities Depository (NSDL) is reportedly preparing for its much-anticipated initial public offering (IPO) in July 2025, according to a Bloomberg report citing people familiar with the matter.
According to the report, NSDL is aiming to raise close to INR 3421.6 crore (USD 400 million). With the markets regulator SEBI already giving the nod for its public listing last year, the report says processes necessary internally are speeding up.
NSDL, being a SEBI-registered market infrastructure institution (MII), has played a key role in the dematerialisation of securities in Indian capital markets. The institution also provides essential electronic infrastructure for the dematerialization process as well as electronic settlement of trades in the Indian securities market.
The listing will be a full offer for sale (OFS), with existing shareholders such as DBI Bank, the National Stock Exchange of India (NSE), and State Bank of India (SBI) selling their shares. Since the public listing is fully OFS, NSDL will not raise any funds through the listing.
NSDL reported total revenue from operations at INR 1,268.24 crore in FY24, with 37.3 per cent of the said revenue coming from its depository services.
