ipo allotment status, ipo allotment, orient technologies ipo listing date
Monday, August 26, 2024 – The much-anticipated Orient Technologies IPO has been a hot topic among investors in recent weeks. With the IPO subscription period coming to a close on August 23, 2024, all eyes are now on the allotment status. In this blog post, we’ll dive into the details of the Orient Technologies IPO allotment, including how to check your allotment status, the issue details, and more.
Orient Technologies IPO Allotment Date
The basis of allotment for the Orient Technologies IPO is expected to be finalized on Monday, August 26, 2024. This means that investors will be able to check their allotment status on this date. Once the allotment is confirmed, the shares will be credited to successful applicants’ Demat accounts accordingly.
How to Check Orient Technologies IPO Allotment Status
To check your Orient Technologies IPO allotment status, follow these simple steps:
- Visit the official website of the stock exchange where the company is listed (BSE or NSE).
- Look for the “IPO Allotment Status” section and select “Orient Technologies IPO” from the dropdown menu.
- Enter your PAN number, application number, or DP Client ID.
- Click on “Search” to view your allotment status.
Orient Technologies IPO Details
Orient Technologies Limited, incorporated in 1997, is an IT solutions provider offering a wide range of customized services. The company’s IPO is a main-board offering of 10,425,243 equity shares with a face value of ₹10, totaling ₹214.76 crores.
The price range for the issuance is ₹195 to ₹206 per share, with a minimum order quantity of 72 shares. The IPO opened for subscription on August 21, 2024, and closed on August 23, 2024.
Orient Technologies IPO Allocation & Minimum Investment Lot Size
The IPO shares of Orient Technologies are distributed as follows:
- 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
The minimum investment required for retail category investors is ₹14,832 (206 x 72 shares)[3]. For small non-institutional investors, the minimum investment amount required is ₹2,07,648 (206 x 1008 shares), while for big non-institutional investors, it is ₹10,08,576 (206 x 4,896 shares).
Orient Technologies IPO Subscription Details
The Orient Technologies IPO received a strong response from investors during the three-day bidding process[4]. The issue was overall subscribed 151.71 times, with non-institutional investors (NIIs) showing strong interest, as their quota was subscribed 300.70 times.
The quota for qualified institutional buyers (QIBs) was subscribed 189.90 times, while the portion reserved for retail investors was subscribed 66.87 times.
Orient Technologies IPO Grey Market Premium (GMP)
The grey market premium (GMP) of Orient Technologies has surged following the strong investor response to the IPO. The last reported GMP was ₹80-82 per share, indicating a potential listing gain of around 40%. However, the GMP was around ₹60 on the last day of bidding.
About Orient Technologies Limited
Orient Technologies, a Mumbai-based IT solutions provider, offers a wide range of customized services. Its ability to tailor solutions to meet clients’ specific needs has helped it attract prominent customers across various industries.
The company has steadily increased its revenue year-on-year, from ₹467.44 crores in FY22 to ₹602.89 crores in FY24. Profits have also increased from ₹33.49 crores in FY22 to ₹41.45 crores in FY24.
In FY24, the company reported an ROE of 27.26% and an ROCE of 28.42%, demonstrating good returns to shareholders’ capital and efficient use of overall resources. Orient Technologies is almost debt-free and mainly operates using its own funds.
Strengths of Orient Technologies
- Provides Cloud and Data Management services
- Offers multi-vendor support services, IT facility management services, network operations centre services, security services, and renewals
- A profitable company with rising net profit on a steady basis
Risks and Concerns
- Rising competition in the IT services industry
- Focus solely on the Indian market
- Reliance on a few key clients
Peer Comparison
While Orient Technologies has a modest revenue and EPS, its return on equity stood at 23.64% in FY24, demonstrating a good return on the capital invested by shareholders. The ROE is competitive within its peer group, closely aligning with HCL Technologies’ 23.01% and surpassing companies like Wipro (14.79%) and Tech Mahindra (8.83%).
Listing and Refund Details
The allotment for the Orient Technologies IPO is expected to be finalized on Monday, August 26, 2024[2]. Refunds will be initiated on Tuesday, August 27, 2024, and the shares will be credited to Demat accounts on Wednesday, August 28, 2024.
The company’s shares are expected to be listed on both the BSE and NSE on Wednesday, August 28, 2024.
FAQs
When will the Orient Technologies IPO allotment be finalized?
The basis of allotment for the Orient Technologies IPO is expected to be finalized on Monday, August 26, 2024.
How can I check my Orient Technologies IPO allotment status?
To check your allotment status, visit the official website of the stock exchange where the company is listed, select “Orient Technologies IPO” from the dropdown menu, enter your PAN number, application number, or DP Client ID, and click “Search”.
What is the price band for the Orient Technologies IPO?
The price range for the Orient Technologies IPO is ₹195 to ₹206 per share.
What is the minimum investment required for the Orient Technologies IPO?
The minimum investment required for retail category investors is ₹14,832 (206 x 72 shares)[3]. For small non-institutional investors, the minimum investment amount required is ₹2,07,648 (206 x 1008 shares), while for big non-institutional investors, it is ₹10,08,576 (206 x 4,896 shares).
When will the Orient Technologies shares be listed on the stock exchanges?
The company’s shares are expected to be listed on both the BSE and NSE on Wednesday, August 28, 2024.
conclusion
In conclusion, the Orient Technologies IPO has generated significant interest among investors due to the company’s solid fundamentals, consistent growth, and minimal debt. While there are risks associated with its smaller scale and regional concentration, the IPO could be a good investment for those looking for exposure to the IT services sector. As always, it’s crucial to conduct thorough research and consider your own risk tolerance before making an investment decision.
