Shardul Amarchand Mangaldas & Co. (SAM) and A&O Shearman advised on Orkla India Limited’s ₹16.67 billion IPO.
Orkla India, which owns household names MTR, Eastern and Rasoi Magic, is promoted by 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 reflects a broader trend of global conglomerates unlocking value by listing their Indian assets. The IPO was over-subscribed 48.73 times, with strong participation across investor categories.
Shardul Amarchand Mangaldas & Co. Advised Oslo listed, Orkla ASA and its Indian subsidiary, Orkla India Limited (formerly MTR Foods Private Limited) on the recent ₹16,670 million IPO by Orkla India.
The Capital Markets team was led by Partners, Nikhil Naredi and Rohit Tiwari with assistance from Principal Associate, Chinmay Sethia and Associates, Manish Soni, Avani Sharda and Najeeb Din. The regulatory advisory team was led by Partner, Manjari Tyagi, Principal Associate Deepika Goyal and Associate, Shivaang Maheshwari. The labour and employment team was led by Partners, Pooja Ramchandani and Kriti Kaushik and Associate Rakshita M. Mukul Baveja, Partner, advised on certain key IP related aspects.
A&O Shearman has advised the underwriters, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited, on the INR16.6bn initial public offering (IPO) of Orkla India Limited. The IPO consisted of an offer for sale by Orkla Asia Pacific Pte. Ltd and certain other existing shareholders. The shares were listed on the National Stock Exchange of India Limited and BSE Limited on November 6, 2025.
A&O Shearman acted as sole international legal counsel on the transaction. The A&O Shearman team was led by Pallavi Gopinath Aney, with support from Mark Leemen and Serena Upadhyay.
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