The second day of subscriptions, the Orient Technologies IPO, received 10.13 subscriptions thus far, on Thursday.
Consolidated data on the National Stock Exchange (NSE) indicates that 8.22 crore shares were bid on during the first share sale, out of the 74.49 lakh shares that were offered.
The non-institutional investors (NIIs) portion brought in ten times the subscription, while the retail investors portion attracted 17.5 times the subscription. Just 5 per cent of the quota was subscribed to, which is intended for qualified institutional buyers (QIBs).
Anchor investors
Orient Technologies raised Rs 64.4 crore from anchor investors, such as Saint Capital Fund, Rajasthan Global Services, SB Opportunities Fund, Pine Oak Global Fund, and Elara Capital (Mauritius), prior to its initial public offering (IPO).
Fresh and OFS parts in issue
An offer-for-sale (OFS) of shares valued at Rs 95 crore and a fresh issuance of Rs 120 crore comprise the Rs 214.76 crore initial public offering (IPO).
Umesh Navnitlal Shah, Jayesh Manharlal Shah, Ajay Baliram Sawant, and Ujwal Arvind Mhatre are offloading company shares under the OFS.
The offer is available for between Rs 195 and Rs 206 per share. August 21 is when the public issue opened, and August 23 is when it closes.
A portion of the Rs 79.65 crore in proceeds from the new issue will be used for general corporate purposes, Rs 10.35 crore for the purchase of office space in Navi Mumbai, and Rs 79.65 crore for funding capital expenditure requirements.
Orient technologies financials and order book
Orient Technologies had Rs 101.2 crore in its order book as of June 30, 2024.
In the 2024 fiscal year, operating revenue climbed to Rs 602.89 crore from Rs 535.10 crore, while profit after tax increased to Rs 41.45 crore from Rs 38.30 crore.
The IPO's sole book-running lead manager is Elara Capital (India) Pvt Ltd. The NSE and BSE will list the equity shares.
