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Orient Technologies Raises ₹64 Cr in Anchor Investment

21 Aug 2024 , 09:37 AM

IT solutions provider Orient Technologies raised ₹64.43 Crore from five anchor investors on August 20, just ahead of its IPO launch. Pine Oak Global Fund and Saint Capital Fund emerged as the leading institutional investors, each acquiring 9.7 lakh equity shares. SB Opportunities Fund picked up 4.85 lakh shares, while Elara Capital (Mauritius) and Rajasthan Global Services purchased 2.91 lakh and 4.09 lakh shares, respectively.

In its filing to the exchanges, the Mumbai-based company confirmed the allocation of 31,27,572 equity shares to anchor investors at ₹206 per share. The ₹214.76-Crore IPO opens for subscription on August 21 and closes on August 23, with a price band of ₹195-206 per share.

The IPO consists of a fresh issue of shares worth ₹120 Crore and an offer-for-sale of 46 lakh shares, totaling ₹94.76 Crore by promoters. Orient Technologies, which specializes in IT infrastructure, IT-enabled services, and cloud & data management, plans to allocate ₹10.35 Crore from the fresh issue proceeds for acquiring office space in Navi Mumbai, ₹79.65 Crore for capital expenditure, and the remainder for general corporate purposes.

Elara Capital (India) is the sole book-running lead manager for the issue.

 

Related Tags

  • Orient Technologies
  • Orient Technologies anchor investment
  • Orient Technologies IPO
  • Orient Technologies IPO anchor book
  • Orient Technologies IPO news
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