The IPO of IT solution company Orient Technologies Limited is opening for bidding (subscription) on 21 August. If you also want to try your hand in IPO, then you should keep money ready in your account. This can prove to be a good opportunity for you to earn. According to Bhasha news, the price band for the company’s Rs 215 crore initial public offering (IPO) has been fixed at Rs 195-206 per share. The company gave this information on Friday.
IPO will close on August 23
According to the news, the company said that the initial share sale will open on August 21 and close on August 23. Under the IPO, Orient Tech is offering to sell new shares worth Rs 120 crore and 46 lakh equity shares worth Rs 95 crore held by the promoters. Thus, the total size of the issue will be Rs 215 crore. The company will use the amount received from the sale of new shares for capital expenditure, acquiring office premises in Navi Mumbai and general working needs.
The company has clients from these areas
Orient Technologies has diverse clients in both public and private sectors in banking, financial services, insurance, information technology (IT) and ITES, healthcare and pharmaceutical industries. Orient Technologies has allotted 50 per cent of its shares in the public issue to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs) and 35% to retail investors.
When will the share be listed
The share allotment for Orient Technologies IPO is expected to be finalised on August 26. It will start the refund process on August 27 and the shares will be credited to the demat accounts of allottees on the same day of refund. The share price of Orient Technologies is expected to be listed on BSE and NSE on January 29. Orient Technologies Limited’s profit after tax (PAT) grew by 8% and its sales grew by 12% during the financial years ended March 31, 2024 and March 31, 2023.
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