Orient Technologies Limited's Initial Public Offering to open on Wednesday For its first initial public offering, Mumbai-based IT solutions company Orient Technologies Limited has set a price range of ₹195 to ₹206 per equity share with a face value of ₹10 apiece. The company's initial public offering, often known as the "IPO" or "Offer," will go live for subscription on Wednesday, August 21, 2024, and close on Friday, August 23, 2024.

For its first initial public offering, Mumbai-based IT solutions company Orient Technologies Limited has set a price range of ₹195 to ₹206 per equity share with a face value of ₹10 apiece. The company's initial public offering, often known as the "IPO" or "Offer," will go live for subscription on Wednesday, August 21, 2024, and close on Friday, August 23, 2024. Following the minimum of 72 equity shares, investors may bid in multiples of 72 equity shares.

The IPO consists of an offer for sale (OFS) by Promoter Selling Shareholders of up to 4,600,000 equity shares and a fresh issue of up to Rs 120 crore. The company plans to utilize the Rs 10.35 crore proceeds from its recent issuance towards the purchase of an office building in Navi Mumbai, while the remaining Rs 79.65 crore would be used to pay its capital expenditure requirements and general corporate purposes.

In 1997, Orient Technologies was incorporated. It has developed extensive knowledge over the years to provide products and solutions for specialized disciplines in all of its business verticals, including cloud and data management services, IT infrastructure products and solutions, and IT enabled services (IteS).

The company works with a variety of technology partners, such as Dell International Services India Private Limited (Dell), Fortinet, Inc. (Fortinet), and Nutanix Netherlands B.V. (Nutanix), to carry out its commercial activities, which require technologically sophisticated solutions. Prominent clients include Coal India, Mazagon Dock, D'Décor, Jyothy Labs, ACG, Integreon, Bluechip, Tradebulls, VJS Bank, VKS Bank, and Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai, have developed a close working connection with the Mumbai-based business.

Orient Technologies had ₹ 101.20 crore in their Order Book as of June 30, 2024. The income generated by operations for Orient Technologies Limited in the fiscal year 2024 climbed to Rs 602.89 crore from Rs 535.10 crore the year before, mostly as a result of higher revenue from ITeS and Cloud and Data Management Services. From ₹38.30 crore in Fiscal 2023 to ₹ 41.45 crore in Fiscal 2024, profit after taxes climbed by 8.22%.

The only person managing the book running lead is Elara Capital (India) Private Limited, while Link Intime India Private Limited is the offer registrar. It is suggested that the equity shares be listed on the NSE and BSE. The offer is being made through the book-building process, with the following allocation guidelines: no less than 15% of the net offer will be made available to non-institutional investors, no less than 35% of the offer will be made available to retail individual investors, and no more than 50% of the offer will be made available to qualified institutional buyers.

Notes for Reference:

Issue Size of the IPO based on the upper and lower end of the price band