As of August 27, 2024, many investors are eagerly awaiting the results of the Orient Technologies IPO allotment. This initial public offering (IPO) has generated significant interest, with a subscription rate that exceeded expectations. In this article, we will explore the details of the IPO, how to check the allotment status, and other essential information related to this offering.
Overview of Orient Technologies
Orient Technologies is a prominent IT solutions provider based in Mumbai, India. Established in 1997, the company specializes in IT infrastructure, IT-enabled services, and cloud and data management solutions. Over the years, it has built a reputation for delivering high-quality services and products tailored to various sectors. The company collaborates with leading technology firms, enhancing its offerings and expanding its market reach.
Also Read: Orient Technologies IPO Listing Date 2024
Orient Technologies IPO Details
The Orient Technologies IPO was open for subscription from August 21 to August 23, 2024. The issue was well-received, with a total subscription of 154.84 times on the final day. This overwhelming response reflects strong investor confidence in the company’s growth prospects.
- IPO Size: ₹215 crore
- Fresh Issue: ₹120 crore
- Offer for Sale: 46 lakh equity shares worth ₹95 crore
- Price Band: ₹195 to ₹206 per share
- Lot Size: Minimum of 72 shares
The proceeds from the IPO will be utilized for various purposes, including capital expenditure, acquisition of office premises in Navi Mumbai, and general corporate needs. The strong demand for the IPO was particularly driven by non-institutional investors, who subscribed 310.03 times, while retail investors subscribed 68.93 times.
Orient Technologies IPO Allotment: Key Dates
| Event | Date |
|---|---|
| IPO Opening Date | August 21, 2024 |
| IPO Closing Date | August 23, 2024 |
| Basis of Allotment | August 26, 2024 |
| Refunds | August 27, 2024 |
| Credit to Demat Account | August 27, 2024 |
| IPO Listing Date | August 28, 2024 |
How to Check IPO Allotment Status
Once the allotment is finalized, investors can check their status through two primary platforms: Link Intime and BSE. Below are the steps for both methods.
Orient Technologies IPO Allotment Status Linkintime
- Visit the Link Intime IPO allotment page.
- Select Orient Technologies from the dropdown menu.
- Choose one of the following options: PAN Number, Application Number, or DP ID.
- Enter the selected details.
- Click on the Search button.
- Your allotment status will be displayed on the screen.
Orient Technologies IPO Allotment Status BSE
- Go to the BSE IPO allotment page.
- Select Orient Technologies from the dropdown menu.
- Enter your Application Number or PAN Number.
- Complete the CAPTCHA verification.
- Click on the Search button to view your status.
Checking Allotment in Demat Account
Investors can also check their allotment status through their Demat accounts:
- Log in to your Demat or Trading Account.
- Check if the shares have been credited to your account.
- If allotted, the shares will appear in your account.
Checking Allotment in Bank Account
To check if the IPO amount has been debited from your bank account:
- Log in to your Bank Account.
- Navigate to the Balance Tab.
- If you received the allotment, the amount will be debited.
- If not allotted, the amount will be released back to your account.
Grey Market Premium (GMP)
As of the latest updates, the grey market premium (GMP) for Orient Technologies shares is approximately ₹82, indicating a potential listing gain of about 39.81%. The GMP is a crucial indicator for investors, reflecting market sentiment and expectations regarding the stock’s performance post-listing.
Frequently Asked Questions (FAQs)
What is an IPO?
An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time. This allows the company to raise capital from public investors.
How does the allotment process work?
After the subscription period ends, the company and its registrar finalize the allotment of shares. Investors are then notified about their allotment status via email or SMS.
What happens if I do not receive an allotment?
If you do not receive an allotment, the amount you invested will be refunded to your bank account. This process typically takes a few days after the allotment date.
When will the shares be listed?
The shares of Orient Technologies are expected to be listed on the BSE and NSE on August 28, 2024.
How can I invest in future IPOs?
To invest in future IPOs, you need to have a Demat account and a trading account. You can apply for IPOs through your broker or online trading platforms.
Conclusion
The Orient Technologies IPO has garnered significant attention from investors, reflecting confidence in the company’s growth trajectory. With the allotment status being finalized on August 26, 2024, many investors are keen to see if they will receive shares. By following the steps outlined above, you can easily check your allotment status through Link Intime or BSE. As the listing date approaches, it will be interesting to see how the shares perform in the market.
Investing in IPOs can be a lucrative opportunity, but it is essential to conduct thorough research and understand the risks involved. Stay informed and make educated decisions as you navigate the exciting world of stock investments.
