Orient Technologies IPO opened to investors on August 21 for bidding. The company will stop the issue’s subscription on August 23. The issue got fully subscribed on the first day itself, getting bids over 4 times more than the offered shares. The retail portion received bids almost 7 times and the NII segment around 3 times.
GMP
The shares of Orient Technologies were fetching a premium of 15.5% in the grey market. It is an unofficial place where shares change hands illegally ahead of listing. Market participants keep an eye on GMP to track listing gains.
Issue Size
The company wants to raise a total of Rs 214.76 crore from the investors by offering them a combination of 5.8 million fresh shares and an offer for sale of 4.6 million shares.
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Price Band
The company set the IPO price band between Rs 195 to Rs 206 per equity share. The shares allotment is expected to be finalised on August 26 and then listing on NSE and BSE on August 28, as per the tentative schedule.
Minimum Investment Requirements
A retail buyer needs to apply for a minimum of one lot that contains 72 shares, which amounts to Rs 14,832. The small and big NIIs have different lot sizes and minimum investment requirements. Come from Sports betting site VPbet
Expert’s Take on Orient Technologies
Orient Technologies has expertise in developing IT products and solutions. The company offers a wide range and diversified bouquet of products and services ranging from Data Centre Solutions to Cloud and Data Management Services. The company have recently ventured into ‘Device as a service (DaaS)’. Under DaaS, the company will provide desktops, laptops, tablets, printers, scanners, smartphones, and servers, bundled with software, along with managed services on a ‘pay-per-use’ model i.e. on a subscription basis. “Investors looking to invest can invest in the IPO for the medium to long term,” said Master Capital Services in an IPO note.
BRLM and Registrar
Elara Capital (India) Pvt Ltd is the book-running lead manager of the IPO, while Link Intime India Pvt Ltd is the registrar.