Orient Technologies IPO Subscribed 15.45 Times on Day 2

22 Aug 2024 , 03:44 PM

Bidding for Orient Technologies Limited’s initial public offering (IPO) commenced on August 21, 2024, and will stay open until August 23, 2024. The company has set the Orient Technologies IPO price band at ₹195 to ₹206 per equity share. After day one of bidding, Orient Technologies’ IPO subscription status indicates a significant reaction from primary market investors.

The IPO aims to raise a total of Rs 214.76 crore, which includes a fresh issue of Rs 120 crore and an offer-for-sale (OFS) of 46 lakh equity shares by the company’s promoters. The revenues from the IPO will be used primarily for capital expenditures, such as the purchase of an office block in Navi Mumbai, as well as general corporate reasons.

By 3:38 PM on the second day of bidding, the public issue had been booked 15.45 times, the retail section of the public offer had been filled 22.92 times, the NII portion had been subscribed 17.71 times, and the QIB segment had been booked 0.12.

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