Orient Tech Shares Hit Upper Circuit on Debut

28 Aug 2024 , 04:47 PM

Orient Technologies’ shares made a solid stock market debut on Wednesday as investors responded strongly to its initial public offering (IPO). The Orient Technologies IPO listing date has been set for today, August 28.

Orient Technologies shares were launched on the BSE at ₹290 per share, a 40.78% premium over the issue price of ₹206 per share. The Orient Technologies IPO listing met the Street’s expectations.

Orient Technologies’ shares rose by 5% to ₹304.45 on the BSE, following a good debut on Wednesday.

The public issue, which closed on Friday, August 23, 2024, had a significant reaction from investors, with 154.84 subscriptions by the end of the subscription period. Non-institutional investors dominated the auction, bidding 310.03 times, followed by qualified institutional buyers (QIBs) at 188.79 times and individual investors at 68.93 times.

For feedback and suggestions, write to us at [e-mail]