Shares of Orkla India Ltd., the parent company of packaged foods maker MTR Foods, debuted on Thursday, November 6, with a muted listing performance.

The stock opened at ₹751.50 on the BSE, offering a slight premium of 3% over its issue price of ₹730, while it listed at ₹750.10 on the NSE.

Ahead of its debut, shares of Orkla India were commanding a premium of 9% in the unlisted market.

The ₹1,667.54-crore initial public offering (IPO) of Orkla India was subscribed 48.73 times during its bidding period from October 29 to 31.

The company has raised ₹1,667.54 crore through an offer for sale (OFS) of 2.28 crore shares. The issue aims to provide an exit opportunity and liquidity to existing shareholders, rather than raise fresh capital for the business.

The IPO had a price band of ₹695-₹7

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