Orient Technologies IPO to open soon: Check subscription dates, price band and other details

Information technology (IT) solutions provider Orient Technologies Ltd IPO is all set to open for susbscription from August 21. The IPO will remain open till August 23. According the information available, the price band for the IPO has been fixed at Rs 195 to Rs 206. 

The floor price and the cap price are 19.50 times and 20.60 times the face value of the equity shares and investors can place bds for multiples of 72 shares, with a minimum bid of 72.

The initial share sale is a combination of a fresh issue of Rs 120 crore and an Offer For Sale of up to 46 lakh equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP).

Over the years, the company has developed deep expertise in creating products and solutions for specialised disciplines across IT Infrastructure, IT Enabled Services (IteS), and Cloud and Data Management Services. As of December 31, 2023, Orient Technologies has a diverse clientele spanning both public and private sectors, including industries like Banking, Financial Services, Insurance (BFSI), Information Technology (IT) & ITeS, healthcare, and pharmaceuticals, among others.

It has clients such as Coal India, Mazagon Dock, D'Dcor, Jyothy Labs, ACG, Integreon, Bluechip, Tradebulls. The company primarily operates in India and has sales and services offices in cities across the country including Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai. Additionally, it has a branch office in Singapore. For fiscal 202223, the company's revenue from operations increased to Rs 535.10 crore from Rs 467.44 crore in fiscal 202122 and profit after tax rose to Rs 38.30 crore in fiscal 2023 from Rs 33.49 crore in the preceding financial year.

Elara Capital (India) Private Ltd is the sole book-running lead manager for the IPO. The equity shares are proposed to be listed on the BSE and NSE.

With agency inputs