Shares of Orient Technologies Ltd on the Bombay Stock Exchange (BSE) traded at Rs. 290, which is 40.78% higher than the issue price. Shares on the National Stock Exchange (NSE) at Rs. 288, which was 39.81% higher than the issue price. The issue price of this Initial Public Offer is Rs. was 206. The IPO was open to investors from August 21 to August 23. The IPO was subscribed a total of 154.84 times in three trading days. It was subscribed 68.93 times in Retail category, 188.79 times in Qualified Institutional Buyers (QIB) and 310.03 times in Non-Institutional Investors (NII) category. Orient Technologies' issue of Rs. 214.76 crore this issue of Orient Technologies totaled Rs. 214.76 crores. For this the company issued 5,825,243 new shares worth Rs.120 crore. While existing investors of the company sold 4,600,000 shares worth Rs 94.76 crore through Offer for Sale i.e. OFS. Retail investors can bid for a maximum of 936 shares Orient Technologies has set a price band of Rs. 195 to Rs. 206 was determined. Retail investors can bid for a minimum of one lot i.e. 72 shares. If you buy at the upper price band of the IPO at Rs. Had applied for 1 lot at 206, you would have had to invest 14,832. At the same time, retail investors can apply for a maximum of 13 lots i.e. 936 shares. For this, the investors as per the upper price band Rs. 1,92,816 has to be invested. 35% of the issue was reserved for retail investors The company reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this 35% share was reserved for retail investors and remaining 15% share was reserved for non-institutional investors (NII). Orient Technologies was established in 1997 Orient Technologies Limited was established in 1997. The company provides information technology (IT) solutions. The company works to create product solutions for specific sectors within its business vertical. Orient is headquartered in Mumbai. What is an IPO? When a company issues its shares to the general public for the first time, it is called an initial public offering or IPO. A company needs money to grow its business. In such a situation, the company raises money by selling some shares to the public or by issuing new shares instead of borrowing from the market. For this the company brings IPO.
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Shares of Orient Technologies rise 40.78%: listed at Rs 290, issue price was 206; A company providing IT solutions
