India, Oct. 24 -- Orkla India Ltd. has announced the price band for its Rs.1,667.54-crore IPO for a valuation of up to Rs.10,000 crore.

The Orkla India IPO will see the parent company of ready-to-eat brand MTR Foods sell 2.28 crore shares in a price band of Rs.695-730 apiece to raise as much as Rs.1,667.54 crore at a valuation of Rs.10,000 crore, according to the company's red-herring prospectus.

The IPO is a pure offer-for-sale, meaning the proceeds will go to the selling shareholders only - and not the company.

Norway's Orkla ASA entered India in 2007 with the acquisition of MTR Foods and expanded operations by picking up a majority of Eastern Condiments in 2020. In 2023, the company consolidated its local business under an Indian su...