Orient Technologies is scheduled to hit the market on August 21, 2024 and close on August 23, 2024. Orient Technologies plans to raise around ₹214.76 Cr through an IPO with a sale of up to 10,425,243 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Incorporated in July 1997, Orient Technologies Limited is a rapidly growing IT solutions provider based in Mumbai, Maharashtra. The company specializes in IT infrastructure, IT-enabled services (IteS), and cloud and data management services. Its offerings include Data Centre Solutions, End-User Computing, Managed Services, Multi-Vendor Support Services, and workload migration to the cloud. With a focus on customizing solutions to meet specific client needs, Orient Technologies has attracted a diverse clientele across industries like banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceutical.
The company serves prominent clients such as Bluechip Corporate Investment Centre Private Limited, Tradebulls Securities Private Limited, and various banks including Vasai Janata Sahakari Bank and Vasai Vikas Sahakari Bank. Orient Technologies has earned several certifications, including ISO 27001:2013 for Information Security Management System and ISO 20000-1:2018 for IT Services Management. With its corporate office in Mumbai and additional sales and service locations in cities like Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai, the company employs 1,482 permanent staff as of June 30, 2024.
Orient Technologies IPO Details
Orient Technologies IPO opens on August 21, 2024, and closes on August 23, 2024. The Listing date for Orient Technologies IPO is on August 28, 2024. The price band for IPO is ₹195 to ₹206 per share and lot size of 72 Shares.
| IPO Date | August 21, 2024 to August 23, 2024 |
| Listing Date | August 28, 2024 |
| Price | ₹195 to ₹206 per share |
| Lot Size | 72 Shares |
| Issue Size | ₹214.76 Cr |
| Face Value | ₹10 per share |
Orient Technologies IPO Tentative Timetable
Orient Technologies opening date is August 21, 2024 and close date is August 23, 2024. The IPO allotment date is August 26, 2024. Therefund initiation of IPO is on August 27, 2024. The credit of shares in demat account is on August 27, 2024. The listing date is on August 28, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 21, 2024 |
| IPO Closing | August 23, 2024 |
| IPO Allotment Date | August 26, 2024 |
| Refund Initiation | August 27, 2024 |
| Shares Credit to Demat | August 27, 2024 |
| Lisiting Date | August 28, 2024 |
Orient Technologies IPO Lot Size
Lot Size of this IPO is 72 shares. A retail-individual investor can apply for up to 13 lots (936 shares or ₹192,816).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 72 | ₹14,832 |
| Retail(Maximum) | 13 | 936 | ₹192,816 |
| S-HNI (Minimum) | 14 | 1,008 | ₹207,648 |
| B-HNI (Minimum) | 68 | 4,896 | ₹1,008,576 |
Orient Technologies IPO Promoter Holding
| Pre Issue Share Holding | 97.96% |
| Post Issue Share Holding | 73.21% |
Orient Technologies IPO Review
Orient Technologies Ltd. (OTL), an IT solutions provider based in Mumbai, is set to launch its IPO, offering a mix of fresh equity shares and an Offer for Sale (OFS) with a price band of ₹195 to ₹206 per share. The company, founded in 1997, has developed a strong portfolio across business verticals including IT infrastructure, IT-enabled services (ITes), and cloud and data management services. OTL collaborates with major technology partners like Dell and Fortinet to deliver tailored IT solutions to clients across diverse industries, such as BFSI, IT, healthcare, and pharmaceuticals. As of June 30, 2024, the company held an order book worth ₹101.20 crore and employed 1,482 people.
Financially, OTL has shown consistent growth, with its revenue increasing from ₹469.12 crore in FY22 to ₹606.84 crore in FY24, and net profits rising from ₹33.49 crore to ₹41.45 crore over the same period. The IPO aims to raise approximately ₹214.76 crore, with the proceeds allocated for acquiring office premises, meeting capital expenditure needs, and general corporate purposes. Post-IPO, the company’s market capitalization is expected to be around ₹857.82 crore. While the IPO is priced at a P/E of 20.70 based on FY24 earnings, the issue appears fully valued, considering the company's strong financials and growth prospects.
Given OTL’s solid performance and strategic positioning in the competitive IT sector, The IPO could be a good chance for investors looking for medium to long-term returns. Although the share price is already high, which shows the company’s expected growth in the near future, smart investors might think about investing a reasonable amount in this offering. They could see steady returns as the company grows its IT solutions and services in different areas.
Orient Technologies IPO Subscription Status (Bidding Details)
Table not foundOrient Technologies IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Orient Technologies IPO FAQs
What is Orient Technologies IPO?
Orient Technologies is issuing 10,425,243 equity shares with a face value of ₹10 each, totaling up to ₹214.76 Cr. The shares are being offered at a price of ₹195 to ₹206 each, with a minimum order quantity of 72 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Orient Technologies IPO will open?
Orient Technologies will open on August 21, 2024 for QIB, NII, and Retail Investors.
When Orient Technologies IPO will end?
Orient Technologies will end on August 23, 2024.
What is Orient Technologies IPO Size?
Orient Technologies IPO size is ₹214.76 Cr.
What is Orient Technologies IPO Price Band?
Orient Technologies price band is ₹195 to ₹206 per share.
What is the Orient Technologies IPO Allotment Date?
Orient Technologies allotment date is August 26, 2024.
What is the Orient Technologies IPO Listing Date?
Orient Technologies listing date is August 28, 2024. The IPO is to be listed on BSE and NSE.
How to Orient Technologies IPO through Zerodha?
To apply for the IPO “Orient Technologies” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Orient Technologies IPO through Upstox?
To apply for the IPO “Orient Technologies” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Orient Technologies IPO Allotment Status?
For Orient Technologies IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Orient Technologies IPO GMP?
You can check out here: Orient Technologies IPO GMP