Orient Technologies Limited IPO

NiftyTrader • August 16, 2024

Post Views: 1,163

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

IPO Date	August 21, 2024 to August 23, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹195 to ₹206 per share
Lot Size	72 Shares
Total Issue Size	10,425,243 shares (aggregating up to ₹214.76 Cr)
Fresh Issue	5,825,243 shares (aggregating up to ₹120.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	35,816,500
Shareholding post-issue	41,641,743
Offer for sale	4,600,000 shares of ₹10 (aggregating up to ₹94.76 Cr)

Orient Technologies IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	72	₹14,832
Retail (Max)	13	936	₹192,816
S-HNI (Min)	14	1,008	₹207,648
S-HNI (Max)	67	4,824	₹993,744
B-HNI (Min)	68	4,896	₹1,008,576

Orient Technologies IPO Objectives

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

General Corporate Purpose
Funding of working capital requirements of the company;
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.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	311.14	215.25	176.32	112.45
Revenue	606.86	542.01	469.12	248.96
Profit After Tax	41.45	38.3	33.49	0.13
Net Worth	175.31	128.82	94.11	61.29
Reserves and Surplus	138.79	111.32	76.61	44.79
Total Borrowing	4.82	12.86	2.28	9.22
				Amount in ₹ Crore

Orient Technologies IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35% of the Net Offer
NII (HNI) Shares Offered	Not less than 15% of the Net Offer

Orient Technologies IPO Timeline

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

IPO Open Date	Wednesday, August 21, 2024
IPO Close Date	Friday, August 23, 2024
Basis of Allotment	Monday, August 26, 2024
Initiation of Refunds	Tuesday, August 27, 2024
A credit of Shares to Demat	Tuesday, August 27, 2024
Listing Date	Wednesday, August 28, 2024
Cut-off time for UPI mandate confirmation	5 PM 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.