Orkla India IPO subscribed nearly 49 times

MUMBAI: The Rs 1,668-crore IPO for Orkla India, the Indian arm of the Norwegian conglomerate, was subscribed nearly 49 times at close of bidding on Friday.Data from BSE showed that while the institutional part was subscribed almost 118 times, the portion reserved for high networth investors (HNIs) was subscribed 54 times. Data also showed that the retail portion of the IPO was subscribed seven times while the part reserved for the company's employees was subscribed 15 times.In the IPO, Orkla India shares were offered at Rs 695 to Rs 730 per share. The company owns brands like MTR Foods, Eastern Condiments and Rasoi Magic. The shares are expected to be listed on the bourses on Nov 6.