Orient Technologies Limited, a provider of IT solutions, plans to raise Rs 214.76 crore from the primary market by launching its initial public offer (IPO) next week. On Wednesday, August 21, the Orient Technologies IPO subscription window will open.
Issue size and reserve portion
The Rs 214.76 crore Orient Technologies initial public offering (IPO) is a book-built issue that consists of a 46 lakh share offer for sale and a fresh issue of 58 lakh shares totalling Rs 20 crore.
Three-quarters of the net offer has been reserved by Orient Technologies for retail investors, and the remaining half is for qualified institutional buyers. 15 per cent of the net issue has been set aside for the category of non-institutional investors.
Price band of issue
A price range of Rs 195 to Rs 206 per share has been set for Orient Technologies' initial public offering. Retailers who wish to participate in the Orient Technologies IPO must apply with a minimum lot size of 72 shares, or Rs 14,832, in total for a single lot.
By placing a bid for a minimum lot size of 14 lots, or 1,008 shares, with a total investment of Rs 2,07,648, small non-institutional investors can apply for the Orient Technologies IPO. With an investment of Rs 10,08,576 at minimum, Big NIIs (bNIIs) can bid on a minimum of 68 lots, or 4,896 shares.
IPO subscription and allotment
The Orient Technologies IPO subscription window will be open from August 21 to August 23. On August 26, the status of the share allotment in the IPO will be finalised.
Refunds for unsuccessful bidders will begin as soon as the share allotment status is finalised, and on August 27, successful bidders will receive shares of Orient Technologies in their demat accounts.
Orient Technologies Ltd. will list its shares on the BSE and NSE exchanges. Wednesday, August 28 is the IPO's estimated listing date.
