Shardul Amarchand Mangaldas (SAM) advised Oslo-listed Orkla ASA and its Indian subsidiary, Orkla India Limited (formerly known as MTR Foods Private Limited) and its promoter selling shareholder, Orkla Asia Pacific Pte. Ltd., in relation to the recent ₹16,670 million IPO by Orkla India.
Orkla India Limited, a leading multi-category Indian food company with heritage brands such as MTR, Eastern, and Rasoi Magic, is part of the global portfolio of Orkla ASA, a leading global industrial investment company which had a market capitalisation of approximately US$ 11 billion and last annual consolidated group revenue of approximately US$6.2 billion.
The IPO was over-subscribed 48.73 times, with strong participation across investor categories. This marks a significant milestone in Orkla India’s growth journey and reflects strong investor confidence in India’s packaged food and beverage sector.
With this deal, SAM Capital Markets team continued its dominance in advising on multinational conglomerates on their Indian capital markets foray, having being involved on deals by Hyundai Motors, LG Electronics, Walmart, Travel Food Services (SSP Global Plc.), Carrao, Niva Bupa and Tenneco Clean Air, amongst others.
The SAM transaction team was led by Nikhil Naredi, Partner; and included Rohit Tiwari, Partner; Chinmay Sethia, Principal Associate; and Associates, Manish Soni, Avani Sharda and Najeeb Din.
The Regulatory Advisory team was led by Manjari Tyagi, Partner; supported by Deepika Goyal, Principal Associate and Shivaang Maheshwari, Associate.
The Labour and Employment team comprised Pooja Ramchandani, Partner; Kriti Kaushik, Partner; and Rakshita Mehta, Associate.
Mukul Baveja, Partner, advised on certain key IP related aspects.