Orkla India, best-known for its MTR and Eastern food brands, will raise up to Rs 1,667 crore in an offer for sale (OFS) that will open on October 29, it said on Friday. The initial public offering ( IPO ), which will close on October 31 (for retail investors), will see the company offer as many as 22.84 million shares in a price band of Rs 695-730 apiece. For anchor investors, the IPO will open a day earlier on October 28.

At the current price band, the company’s valuation will be Rs 10,000 crore. This is the second OFS within weeks of South Korean major LG India’s market debut this month which took a similar route. The entire proceeds from the Orkla India IPO will be repatriated by the parent Orkla Asia-Pacific, which is diluting 15% stake through the capital issue. It currently has

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