Orient Technologies Limited IPO 

Orient Technologies Limited IPO opens on August 21, 2024, and closes on August 23, 2024. The allotment for the Orient Technologies Limited IPO  is anticipated to be completed on Monday, August 26, 2024. The IPO will be listed on the BSE and NSE, with a tentative date set for Wednesday, August 28,2024.

The Orient Technologies Limited IPO’s price band is Rs 195 to Rs 206 per share. The IPO is a book-built issue of Rs 214.76 crores crores, an entirely new issue of 0.58 crores shares.

Orient Technologies IPO Details

Orient Technologies IPO Lot Size

Orient Technologies IPO Objectives

The Company proposes to utilize the Net Proceeds towards the following objects:

1. General Corporate Purpose
2. Funding of working capital requirements of the company;
3. Acquisition of office premise at Navi Mumbai situated at units no 1201, 1202, 1203, and 1204, respectively which are situated at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property);

About Orient Technologies Limited

Established in July 1997 and headquartered in Mumbai, Orient Technologies Limited is a dynamic IT solutions provider. The company excels in IT infrastructure, offering services such as Data Centre Solutions and End-User Computing. Its IT Enabled Services (IteS) include Managed Services, Multi-Vendor Support, Network Operations Centre Services, and Security Services. Additionally, Orient Technologies specializes in Cloud and Data Management, facilitating smooth migration from data centers to cloud environments.

Serving a diverse clientele, including Bluechip, Tradebulls, and Coal India, Orient Technologies boasts a strong presence across sectors like BFSI, IT, and healthcare. The company holds multiple certifications, including ISO 27001:2013 and ISO 9001:2015, and maintains a workforce of 1,482 employees as of June 30, 2024. Its operations extend across major Indian cities, ensuring broad regional support.

Orient Technologies Limited Financial Information

Orient Technologies Limited’s revenue increased by 12% and profit after tax (PAT) rose by 8% between the financial year ending with March 31, 2024 and March 31, 2023.

Orient Technologies IPO Reservation

Orient Technologies IPO Timeline

Orient Technologies IPO opens on August 21, 2024, and closes on August 23, 2024.

Conclusion

The Orient Technologies Limited IPO will open on August 21, 2024, and close on August 23, 2024. Priced between Rs 195 and Rs 206 per share, the IPO is a book-built issue of Rs 214.76 crores, comprising 58.25 lakh new shares. Proceeds will be used for working capital, acquiring office space in Navi Mumbai, and other corporate purposes. The IPO is expected to list on the BSE and NSE on August 28, 2024. Founded in 1997 and based in Mumbai, Orient Technologies offers IT infrastructure and services, showing robust recent financial growth.