Orient Technologies IPO is scheduled to hit the market on August 21, 2024, and will subsequently close on August 23, 2024. This IPO aims to raise approximately ₹214.76 crores, which includes a fresh issue of ₹120 crores as well as an offer for sale of up to 4,600,000 equity shares, each with a face value of ₹10. Furthermore, the allocation is strategically set as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs).
Table of contents
- Orient Technologies IPO Overview
- Company Details
- Orient Technologies IPO Key Dates
- Financials (₹ in Crores)
- Objective of the Issue
- Company Promoters
- Orient Technologies IPO GMP (Grey Market Premium)
- Orient Technologies IPO Application Form PDF
- Orient Technologies IPO Subscription Status
- Orient Technologies IPO Allotment Status
- IPO Review
- Orient Technologies IPO Registrar
- Orient Technologies IPO Lead Manager
- Orient Technologies Limited Contact
- Orient Technologies IPO FAQs
Orient Technologies IPO Overview
| Company Name | Orient Technologies Limited |
| Industry | Information Technology |
| IPO Issue Type | Book Built Issue |
| Open Date | August 21, 2024 |
| Close Date | August 23, 2024 |
| Total Issue Size | ₹214.76 Crores (10,425,243 Equity Shares) |
| Face Value | ₹10 Per Equity Share |
| Fresh Issue | ₹120 Crores (5,825,243 Equity Shares) |
| Price Band | ₹195 to ₹206 Per Share |
| Listing on | BSE & NSE |
| Lot Size | 72 shares |
| Offer for Sale | ₹94.76 Crores (4,600,000 Equity Shares) |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Orient Technologies Limited, founded in July 1997, is a leading IT solutions provider based in Mumbai, Maharashtra. The company specializes in IT Infrastructure, IT-Enabled Services (ITeS), and Cloud and Data Management Services. Specifically, its offerings include Data Centre Solutions, Managed Services, Multi-Vendor Support, IT Facility Management, Network Operations Centre, Security Services, and Cloud migration.
Moreover, Orient Technologies serves various industries, including banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceutical sectors. Some of its key clients include notably Bluechip Corporate Investment Centre, as well as Tradebulls Securities, in addition to Vasai Janata Sahakari Bank, and Vasai Vikas Sahakari Bank. Furthermore, Integreon Managed Solutions, Coal India, and Mazagon Dock Shipbuilders are among its clients, along with the Joint Commissioner of Sales Tax (GST Mahavikas), and D’Décor Exports.
Furthermore, the company is renowned for its quality and security, holding several prestigious certifications: ISO 27001:2013 for Information Security Management, ISO 20000-1:2018 for IT Service Management, ISO 9001:2015 for Quality Management, ISO/IEC 27001:2013 for Information Security Management, ISO 22301:2012 for Business Continuity Management, and CMMI Maturity Level 3.
Orient Technologies IPO Key Dates
| IPO Open Date | August 21, 2024 |
| IPO Close Date | August 23, 2024 |
| Basis of Allotment | August 26, 2024 |
| Refunds | August 27, 2024 |
| Credit to Demat Account | August 27, 2024 |
| IPO Listing Date | August 28, 2024 |
Financials (₹ in Crores)
| Year | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹311.14 | ₹215.25 | ₹176.32 |
| Revenue | ₹606.86 | ₹542.01 | ₹469.12 |
| Profit After Tax (PAT) | ₹41.45 | ₹38.3 | ₹33.49 |
| Net Worth | ₹175.31 | ₹128.82 | ₹94.11 |
| Total Borrowings | ₹4.82 | ₹12.86 | ₹2.28 |
Objective of the Issue
- We are acquiring office premises in Navi Mumbai, specifically units 1201, 1202, 1203, and 1204 at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane. This will be referred to as the Navi Mumbai Property.
- Additionally, we are funding capital expenditure requirements, including I. Purchasing equipment for setting up the Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai Property. II. Acquiring equipment and devices for our Device-as-a-Service (DaaS) offering.
- These investments will support our general corporate purposes.
Company Promoters
- Ajay Baliram Sawant
- Umesh Navnitlal Shah
- Ujwal Arvind Mhatre
- Jayesh Manharlal Shah
Orient Technologies IPO GMP (Grey Market Premium)
Curious about the latest Grey Market Premium (GMP) for the Orient Technologies IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including Orient Technologies Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
Orient Technologies IPO Application Form PDF
To download the Orient Technologies IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
Orient Technologies IPO Subscription Status
Orient Technologies IPO subscription kicks off on August 21, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Orient Technologies IPO Allotment Status
To check the Orient Technologies IPO allotment status go to the IPO registrar website Link Intime India Pvt Ltd or go to IPO Allotment.
To check Orient Technologies IPO allotment status. Firstly, follow the steps below:
- First, go to the link given above.
- Next, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- Since 1997, Orient Technologies Limited has developed significant expertise and a deep understanding of the IT industry.
- The company offers a broad range of services, including IT infrastructure, IT-enabled services (IteS), and cloud and data management.
- Furthermore, Orient Technologies is known for tailoring its offerings to meet client’s specific needs.
- It serves prominent clients across both the public and private sectors.
- Additionally, the company holds numerous certifications, such as ISO 27001:2013, ISO 9001:2015, and CMMI Maturity Level 3.
- With a strong geographic footprint, Orient Technologies effectively serves clients in various regions, thereby expanding its market reach.
Risks:
- The IT solutions industry is fiercely competitive, featuring a wide range of players from global giants to niche providers.
- Moreover, rapid advancements in technology present a risk if the company does not keep up with innovations.
- Although having prominent clients is a strength, it also introduces a risk if the company relies too heavily on a few key clients.
- Additionally, as an IT solutions provider, the company becomes a potential target for cyberattacks.
- Furthermore, the company operates across multiple regions, each with its own regulatory requirements.
Orient Technologies IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: orienttech.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Orient Technologies IPO Lead Manager
Elara Capital (India) Private Limited
One International Centre, Tower 3, 21st Floor,
Senapati Bapat Marg, Elphinstone Road West, Mumbai 400 013,
Maharashtra, India | Tel: +91 22 6164 8599
Email: otl.ipo@elaracapital.com | Website: www.elaracapital.com
Orient Technologies Limited Contact
Orient Technologies Limited
Off No-502, 5th Floor, Akruti Star,
Central Road, MIDC, Opp. Akruti Point Central
Andheri (East), Mumbai – 400093
Phone: +91 22 4292 8777
Email: complianceofficer@orientindia.net
Website: https://www.orientindia.in/
Orient Technologies IPO FAQs
The IPO includes a fresh issuance of shares worth ₹120 crore and an offer for sale of 46 lakh shares.
Elara Capital (India) Private Limited is managing the IPO, and Link Intime India Private Ltd is the registrar.
Pros: The company shows strong revenue and profitability growth and has low debt.
Cons: However, it is worth noting the decreasing inventory turnover, fluctuating margins, and the lack of an available P/E ratio.
For FY2023, the revenue stands at ₹535.10 crore, PAT at ₹38.30 crore, NAV at ₹73.61 per share, and RoNW at 29.73%.
To apply, download and submit the application form from either the company’s or the registrar’s website, following the provided guidelines.
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