North India Statesman
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MTR Foods IPO date: You must be aware of MTR Foods, a famous company manufacturing spices and ready-to-eat packets. Now its owner company, Orkla India, is coming with its IPO. This means that now you can also become a shareholder in this company.
The company has fixed the price of one share for its IPO between ₹ 695 to ₹ 730. This IPO will open for the general public on October 29 and will close on October 31.
What are the special features of MTR IPO?
If you are thinking of investing money in this IPO, then you will have to bid for at least 20 shares. That means, according to the upper price band, you will have to invest around ₹ 14,600. A discount of ₹ 69 is also being given on every share for the employees working in the company.
An important thing is that this IPO is completely ‘Offer for Sale’ (OFS). In simple language, this means that the company is not issuing any new shares, rather the old owners and investors of the company are selling their stake. Therefore, the money received from the IPO will not go to the company, but will go to those who sold the shares.
Market experts say that the decision of any investment should not be taken only on the signals of gray market, but after looking at the performance of the company and its financial health.
How is the company’s history and business?
The story of MTR is very interesting. It was started as a small restaurant in 1924 by the Maiya family in Bengaluru. Due to its taste and quality, it gradually became popular in the country and the world. To grow the company faster, in the year 2007 it became a part of Orkla, a big Norwegian company.
Today, apart from MTR, Orkla India has many big brands like Eastern Condiments and Rasoi Magic. The company’s portfolio includes spices, sweets, breakfast mixes and many other products that are ready in minutes.
So if you are also looking for an opportunity to invest in a well-known and years old company, then this IPO of MTR’s parent company can be an option for you.
