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Initial public offerings

Orient Technologies IPO: Key Takeaways and Statistics

Strategic Insights

— 1 min read

Orient Technologies, a company with expertise in creating products and solutions for specialized disciplines, is set to launch its initial public offering (IPO) with a price range of Rs.195-206 per share. The company plans to raise up to Rs.215 crore, including a fresh equity sale of Rs.120 crore and an offer for sale (OFS) of 46 lakh shares. The IPO, which closed on August 23, has garnered significant attention in the grey market, with shares trading at a premium of Rs.55, indicating strong listing gains for investors.

Key Takeaways:

  • The Orient Technologies IPO is priced in the range of Rs.195-206 per share, with a total issue size of up to Rs.215 crore.
  • The IPO consists of a fresh equity sale of Rs.120 crore and an offer for sale (OFS) of 46 lakh shares.
  • The OFS involves promoters Ajay Baliram Sawant, Umesh Navnital Shah, Ujwal Arvind Mhatre, and Jayes Manharlal offloading part of their stakes.
  • The IPO reserves 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
  • Net proceeds from the IPO will be used to fund capital expenditure requirements, acquire office premises, and for general corporate purposes.
  • Orient Technologies has expertise in creating products and solutions for IT infrastructure, IT enabled services, cloud, and data management services.
  • The company collaborates with top technology companies like Dell, Fortinet, and Nutanix, offering products and services such as Data Centre Solutions and End-User Computing.
  • In FY24, the company's revenue from operations increased 12% year-on-year to Rs.603 crore.
  • Elara Capital is acting as the sole book running lead manager for the IPO.
  • Link Intime India is the registrar of the issue.
  • The IPO closed on August 23, with the company planning to utilize the funds for strategic purposes.

Statistics:

  • IPO size: up to Rs.215 crore
  • Fresh equity sale: Rs.120 crore
  • Offer for Sale (OFS): 46 lakh shares
  • Price range: Rs.195-206 per share
  • Grey market premium: Rs.55 per share
  • FY24 revenue from operations: Rs.603 crore (12% increase from previous year)
  • IPO closing date: August 23
  • Book running lead manager: Elara Capital
  • Registrar of the issue: Link Intime India

Sources:

  • Hindustan Times, "Orient Technologies IPO: 10 things to know"

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