The book-built IPO of Orient Technologies is valued at Rs 214.76 crores. The issue consists of an offer to sell 0.46 crore shares, valued at Rs 94.76 crores, and a fresh issue of 0.58 crore shares, totalling Rs 120.00 crores.
The Orient Technologies initial public offering (IPO) will go live on August 21, 2024, and end on August 23, 2024. On Monday, August 26, 2024, the allotment for the Orient Technologies IPO is anticipated to be completed. The tentative listing date for the Orient Technologies initial public offering (IPO) is Wednesday, August 28, 2024, on the BSE and NSE.
The pricing range for Orient Technologies’ IPO is ₹195 to ₹206 per share. Applications must have a minimum lot size of 72 shares. The bare minimum that retail investors must invest is ₹14,832. The minimum lot size investment for sNII is 14 lots (1,008 shares), amounting to ₹207,648, and for bNII, it is 68 lots (4,896 shares), amounting to ₹1,008,576.
Orient Technologies IPO Details
| IPO Date | August 21, 2024 to August 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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) |
| Offer for Sale | 4,600,000 shares of ₹10(aggregating up to ₹94.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 35,816,500 |
| Share holding post issue | 41,641,743 |
Orient Technologies IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
| QIB Shares Offered | Not more than 50.00% of the Net offer | |
| Retail Shares Offered | Not less than 35.00% of the Offer | |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Orient Technologies IPO Timeline (Tentative Schedule)
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 |
| 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 |
Orient Technologies IPO Lot Size
Investors can bid for a minimum of 72 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
Orient Technologies IPO Promoter Holding
Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre are the promoters of the company.
| Share Holding Pre Issue | 97.96% |
| Share Holding Post Issue |
About Orient Technologies Limited
Orient Technologies Limited, a rapidly expanding provider of information technology (IT) solutions with its headquarters located in Mumbai, Maharashtra, was incorporated in July 1997. The organisation has amassed a wealth of information to produce goods and services tailored to particular industries within its vertical business markets.
Below is a summary of these areas:
IT Infrastructure: End-user computing and data centre solutions are among the goods and services offered;
Managed services, multi-vendor support services, IT facility management services, network operations centre services, security services, and renewals are among the services provided by IT Enabled Services (IteS).
Services related to cloud computing and data management include workload migration from data centres to the cloud.
Company Financials
Orient Technologies Limited Financial Information (Restated)
The profit after tax (PAT) of Orient Technologies Limited climbed by 8% and its sales by 12% during the fiscal year that ended on 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 |
Key Performance Indicator
The market capitalization of Orient Technologies IPO is Rs 857.82 Cr.
KPI as of March 31, 2024.
| KPI | Values |
| ROE | 27.26 |
| ROCE | 28.42 |
| RoNW | 23.64 |
| P/BV | 4.21 |
| PAT Margin (%) | 6.87 |
Objects of the Issue (Orient Technologies IPO Objectives)
The following goals are how the company plans to use the net proceeds:
Acquiring office space at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property); Financing the necessary capital expenditures for:
i. Purchasing equipment to establish a Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai Property;
ii. Purchasing equipment and devices to provide Devise-as-a-Service (DaaS) offering. (collectively, Capital Expenditure).
general objectives of the company.
Orient Technologies IPO Review (May apply)
[Dipip Davda] The business provides IT solutions and related services in a highly competitive and fragmented market. For the reporting periods, it showed consistent development in both its top and bottom lines. Orders totalling more than Rs. 101 crore were pending as of June 30, 2024. The issue looks fully priced, discounting all near-term positives, based on FY24 earnings. Sensible investors may park modest sums of money for a medium- to long-term period.
Orient Technologies’ current IPO GMP
According to market watchers, the Orient Technologies IPO’s GMP (grey market premium) is currently ₹52, or roughly 26% more than the IPO’s upper price range. If investors receive shares through the allotment process, the grey market indicates they can anticipate a return on their investment of about 26%. They claimed that the general market atmosphere is favourable and encouraging for the main market. There may be additional positive emotion in the grey market surrounding the Orient Technologies IPO once it starts on Wednesday.
However, because GMP is completely unregulated, stock market analysts stated that it is not the best gauge of the strength of an initial offer. They said there is nothing to do with a company’s financials. They advised investors to scan the company’s balance sheet and only make any decision regarding Orient Technologies IPO.
