The share of Orient Technologies Limited was listed on the Bombay Stock Exchange (BSE) at ₹ 290, up 40.7% from the issue price. On the National Stock Exchange (NSE), the share was listed at ₹ 288, up 39.81% from the issue price. At the same time, the issue price of this IPO was ₹ 206. This IPO was open for investors from 21 August to 23 August. In three business days, the IPO was subscribed a total of 154.84 times. It was subscribed 68.93 times in the retail category, 188.79 times in the Qualified Institutional Buyers (QIB) and 310.03 times in the Non-Institutional Investors (NII) category. The issue of Orient Technologies was worth ₹ 214.76 crores. The issue of Orient Technologies was worth a total of ₹ 214.76 crores. For this, the company issued 5,825,243 fresh shares worth ₹ 120 crores. While, the existing investors of the company sold 4,600,000 shares worth ₹ 94.76 crores through Offer for Sale i.e. OFS. Retail investors could bid for a maximum of 936 shares. Orient Technologies had fixed the price band of this issue from Rs 195 to Rs 206. Retail investors could bid for at least one lot i.e. 72 shares. If you had applied for 1 lot as per the upper price band of the IPO of Rs 206, then you would have had to invest ₹ 14,832 for it. Whereas, retail investors could apply for a maximum of 13 lots i.e. 936 shares. For this, investors would have had to invest Rs 1,92,816 as per the upper price band. 35% of the issue was reserved for retail investors The company had reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% was reserved for retail investors and the remaining 15% 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 products solutions for special areas 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 i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this reason the company brings IPO.
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Orient Technologies shares listed at ₹290, up 40.7%: Issue price was ₹206; The company provides IT solutions
