Considering the upper price band of Rs 206, the stock is expected to trade at a healthy premium of 46% over the issue price.
However, it is important to note that grey market premiums are only one indicator of how a company’s shares compare in the over-the-counter market and are subject to change rapidly.
Orient Technologies IPO received a strong response from investors with 152x subscription at closing, driven by strong bids from non-institutional investors on the last day.
The proceeds from the fresh issue will be used to fund its capital expenditure requirements, acquisition of office premises in Navi Mumbai and general corporate purposes. Also Read: Premier Energies IPO opens for subscription. Should you bid?Over the years, Orient Tech has developed deep expertise in building products and solutions for specialized disciplines in IT Infrastructure, IT-Enabled Services (IteS), and Cloud and Data Management Services. It collaborates with leading technology companies such as Dell, Fortinet, and Nutanix to deliver advanced solutions tailored to meet the specific needs of its customers.
The products and services offered by Orient Technologies, within IT Infrastructure, include Data Center Solutions and End-User Computing.
The IT Infrastructure segment has a history of being the busiest business segment and also the largest revenue generating segment. It has added new products making it a broad-based offering and is growing at a CAGR of 58.60% from FY21 to FY23.
In FY24, the company’s operating revenue increased 12% year-on-year to Rs 603 crore, while profit for the same period rose to Rs 41.4 crore.
Elara Capital acted as the sole lead order book manager for the IPO and Link Intime India was the registrar.
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of Economic Times)
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.