Orient Technologies IPO listing today: Shares of Orient Technologies, a prominent provider of IT solutions, made a strong debut on the stock exchange on Wednesday. Orient Tech shares were launched on the BSE at Rs 290, representing a 40.77 percent premium over the upper end of their issue price of Rs 206. On the NSE, Orient Technologies shares opened at Rs 288, representing a 39.80% premium over the issue price.
As a result, investors received a return of Rs 84 per share upon the IPO, representing a 40% increase. Ahead of its stock market debut, Orient Tech shares were selling at a premium of Rs 95, or 46%, in the grey market, indicating strong listing returns for shareholders.
The public issue, which closed on Friday, August 23, 2024, had a significant reaction from investors, with 154.84 subscriptions by the end of the subscription period. Non-institutional investors dominated the auction, bidding 310.03 times, followed by qualified institutional buyers (QIBs) at 188.79 times and individual investors at 68.93 times.
Brokerages like as Anand Rathi Research, Geojit, Swastika Investmart, and Mastertrust have all expressed a generally positive outlook on Orient Technologies' public offering for investors.
The public offering was made at a price range of Rs 195-206 per share, with a lot size of 72. The Orient Tech IPO included a fresh issue of 5,825,243 shares as well as an offer for sale in which the company's promoters and investors sold 4,600,000 equity shares at a face value of Rs 10 each. The foundation for allotment of Orient Tech IPO shares was finalized on Monday, August 26, 2024.
Orient Technologies, founded on July 4, 1997, provides a diverse range of products and services organized into three verticals: IT Infrastructure, IT Enabled Services (ITeS), and Cloud and Data Management Services.
