Orient Technologies IPO Debuts at 40% Premium

28 Aug 2024 , 09:50 AM

The shares of Orient Technologies are listed at a premium of 40% on the D-Street. On NSE, the shares are listed at ₹288, at a 39.81% premium from the issue price of ₹206 and ₹290 on BSE with a 40.78% premium.

The initial public offer (IPO) of Orient Technologies Limited was subscribed to 151.71 times till the last day. The retail portion has been subscribed 66 times while the non-institutional investors bid 300.60 times against the quota reserved. However, the qualified institutional investors’ portion received 189.90 times subscription.

The IPO opened for public subscription on August 21 and closed on August 23. Orient Technologies has set its IPO price band between ₹195 and ₹206 per share. At the upper end, the company raised ₹214.76 crore through the book-build issue, which included a fresh issue of 58.25 lakh equity shares worth ₹120 crore and an offer for sale of 46 lakh shares valued at ₹94.76 crore.

The company will use fresh issues to acquire multiple premises and fund capital expenditure.

Elara Capital (India) Private Limited is serving as the book-running lead manager for the Orient Technologies IPO, with Link Intime India Private Ltd appointed as the IPO registrar.