Orient Technologies IPO Allotment and Listing: Key Details and Market Insights
News Mania Desk/Agnibeena Ghosh/26th August 2024
The allotment process for Orient Technologies’ initial public offering (IPO) is scheduled to be finalized today, August 7, 2024. Investors who participated in the subscription window, which closed on August 23, 2024, can check their allotment status on the official websites of BSE, NSE, or Link Intime India, the registrar for this issue. The IPO, priced between ₹195 and ₹206 per share with a minimum lot size of 72 shares, has generated considerable interest, being oversubscribed by an impressive 154.84 times.
The IPO consists of a fresh issue of 5,825,243 shares and an offer for sale of 4,600,000 equity shares, each with a face value of ₹10. The strong demand is evident from the subscription details: non-institutional investors (NIIs) showed the highest interest, subscribing 310.03 times the shares reserved for them. Qualified Institutional Buyers (QIBs) followed closely with a subscription rate of 188.76 times, while the retail investor portion was subscribed 68.93 times.
For those eager to check their allotment status, they can visit the following links:
- BSE: BSE IPO Allotment Status
- NSE: NSE IPO Allotment Status
- Link Intime India: Link Intime IPO Status
In terms of market performance, Orient Technologies shares are currently trading at a premium in the grey market. As of now, the grey market premium (GMP) stands at approximately ₹82 over the upper end of the IPO price band. This suggests robust investor confidence in the company’s stock ahead of its listing. The shares are expected to make their debut on the BSE and NSE on Wednesday, August 28, 2024. Based on current grey market trends, the debut price is anticipated to be around ₹288, reflecting a potential gain of about 40% over the issue price.
Founded in 1997 and headquartered in Mumbai, Orient Technologies is a prominent IT solutions provider, recognized for its specialized products and services across various industry sectors. The company’s extensive experience and innovation in the IT field have contributed to its strong market position and high investor interest.
The significant oversubscription and premium in the grey market indicate strong market enthusiasm and investor belief in Orient Technologies’ potential for growth. As the IPO progresses towards its listing, the company’s performance on the stock exchanges will be keenly observed by investors and market analysts alike.
