Orient Technologies IPO price band: The Orient Technologies Limited IPO price band has been fixed in the range of ₹195 to ₹206 per equity share of the face value of ₹10. The Orient Technologies IPO date of subscription is scheduled for Wednesday, August 21, and will close on Friday, August 23. The allocation to anchor investors for the Orient Technologies IPO is scheduled to take place on Tuesday, August 20.
The floor price and the cap price are 19.50 times and 20.60 times the face value of the equity shares. Bids may be placed for multiples of 72 shares, with a minimum bid of 72.
The company in an advertisement on Business Standard stated that the price to earnings ratio based on diluted EPS for 2024 at the upper end of the price band is 17.46 times as compared to the average industry peer group PE ratio of 29.87 times.
Orient Technologies has allocated 50% of the shares in the public issue for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% of the offer is set aside for retail investors.
The Orient Technologies IPO basis for share allocation is expected to be finalised on Monday, August 26. The business will start processing refunds on Tuesday, August 27, and the shares will be deposited to the allottees' demat accounts the same day as the refund. Orient Technologies share price is likely to be listed on BSE and NSE on Monday, January 29.
The firm was founded in 1997 and is a supplier of information technology (IT) solutions with its headquarters located in Mumbai, Maharashtra. IT Infrastructure, IT Enabled Services (IteS), Cloud and Data Management Services are some of the business sectors for which we have developed extensive experience over the years to produce products and solutions.
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 need technologically sophisticated solutions.
The company's listed peers are Dynacons Systems & Solutions Ltd (with a P/E of 29.47), HCL Technologies Ltd (with a P/E of 26.93), Wipro Ltd
(with a P/E of 23.39), LTIMindtree Ltd (with a P/E of 34.56), Allied Digital Services Ltd (with a P/E of 26.05), Dev Information Technology Ltd ( with P/E of 29.01), Tech Mahindra Ltd (with a P/E of 55.17), and Silicon Rental Solutions Ltd (with a P/E of 14.41).
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.
Orient Technologies IPO, which is worth ₹214.76 crore, comprises a fresh issue of ₹120 crore, and an offer-for-sale (OFS) of 46 lakh equity shares by the promoters.
Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah are the ones offloadingshares in the OFS.
The company plans to use the net proceeds for general company purposes, including capital expenditure requirements, and the purchase of an office building in Navi Mumbai.
The Orient Technologies IPO's book running lead manager is Elara Capital (India) Private Limited, and the issue's registrar is Link Intime India Private Ltd.
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