Orient Technologies IPO: Read the IPO in Detail

• Orient Technologies IPO is a book-built issue of Rs 214.76 crore.
• This upcoming IPO bidding opens on August 21 and closes on August 23, 2024.
• Orient Technologies IPO price band is set at Rs 195 to Rs 206 per share.
• The minimum investment required Rs 14,832.

Orient Technologies IPO: Synopsis

Orient Technologies IPO is open for subscription starting Wednesday, August 21, 2024 and closing on Friday, August 23, 2024. The price of this upcoming IPO is decided at Rs 195 to Rs 206 per share. 

The minimum lot size for the retail category is 72 shares. The minimum lot size for small NII is 14 lots consisting of 1008 shares. Meanwhile, the minimum lot for big non-institutional investors is 68 lots with 4,896 shares. 

The minimum investment required for retail category investors is Rs 14,832 (206 x 72 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,07,648 (206 x 1008 shares); for big non-institutional investors, it is Rs 10,08,576 (206 x 4,896 shares). 

Orient Technologies IPO is a book-built issue of Rs 214.76 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 0.58 crore equity shares amounting to Rs 120 crores. The offer-for-sale is of 0.46 crore equity shares amounting to Rs 94.76 crores. 

The allotment for this IPO is expected to be finalised on Monday, August 26, 2024. 

Orient Technologies Limited's IPO will be listed on both the exchanges BSE and NSE, and the listing date is fixed for Wednesday, August 28, 2024. 

Elara Capital India Private Limited is the book-running lead manager of Orient Technologies Limited. Link Intime India Private Limited is the registrar for this new IPO.

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Orient Technologies IPO: About the Company

Orient Technologies Limited, incorporated in 1997, is an IT solutions provider headquartered in Mumbai. The company works in three areas: IT infrastructure, IT-enabled services, and Cloud and Data Management Services.  

Orient Technologie offers a range of customized offerings, and its ability to tailor solutions to meet customers' specific needs has enabled it to attract prominent clients across various industries. They serve leading public and private sector entities in diverse customer industries, such as banking, financial services, insurance, IT, ITeS, and pharmaceutical.

The company's client base includes big names like Bluechip Corporate Investment Centre Private Limited, Tradebulls Securities Private Limited, Vasai Janata Sahakari Bank Limited and Vasai Vikas Sahakari Bank Limited, Integreon Managed Solutions,Coal India, Mazagon Dock Shipbuilders Limited, Joint Commissioner of Sales Tax, Mumbai, and D'Décor Exports Private Limited.

Currently, the company has a team of 1,482 permanent employees. 

Orient Technologies IPO: Objectives

The funds will be used to acquire office premises at Navi Mumbai. The remaining will be allocated for capital expenditure requirements, such as purchasing equipment for setting up NOC and SOC. Additionally, the funds will also fulfil general corporate purposes. 

Orient Technologies IPO: Other Important Details

Orient Technologies IPO: Time-Table

Orient Technologies Limited: Financial Metrics  (Amt in Rs Crore)

Orient Technologies reported revenue of Rs 606.86 crore and net profit of Rs 41.45 crore for the period ending March 31 2024. The company’s revenue increased by 12% and PAT increased by 8% between the FY ending with March 31 2024 and March 31 2023.

Lot Size of Orient Technologies IPO

Promoters of Orient Technologies Limited and Its Holdings

The promoters of Orient Technologies Limited are Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre. The promoter's shareholdings before the IPO is 97.96% however, after the IPO, the details of the shareholding are not available.

Orient Technologies IPO: Strength of the Company

·   Orient Technologies provides Cloud and Data Management services.

·   The company services include multi-vendor support services, IT facility management services, network operations centre services, security services, and renewals.

·   Orient Technologies is a profitable company and net profit is rising on a steady basis. The PAT increased from 38.3 crore to Rs 41.45 crore between FY23 and FY24 respectively. 

FAQs

1. What are the details of Orient Technologies Limited IPO 2024?

Orient Technologies IPO is a book-built issue of Rs 214.76 crores. This issue is a combination of fresh issue and offer-for-sale. The fresh issue is of Rs 0.58 crore equity shares amounting to Rs 120 crores. The offer-for-sale is of 0.46 crore equity shares amounting to Rs 94.76 crores.

2. Who are the lead managers for the Orient Technologies Limited IPO?

Elara Capital India Private Limited is the lead manager for this IPO.

3. What is the role of Link Intime India in this IPO?

Link Intime India Private Limited is the registrar for Orient Technologies Limited, handling the IPO's administrative aspects.

4. How can I apply for the Orient Technologies Limited IPO?

The public subscription of this IPO will open on August 21, 2024. Click here to continue the application process.

5. How will the net proceeds from the IPO be utilised?

The funds will be used for the acquisition of office premises at Navi Mumbai. The remaining will be allocated for the capital expenditure requirements toward the purchase of equipment for setting up NOC and SOC. Additionally, the funds will also fulfil the general corporate purposes. 

6. How can I check the allotment status of the IPO?

Investors can check out the allotment status of the Orient Technologies Limited IPO 2024 by visiting here.

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