Orient Technologies IPO allotment expected today: Steps to check status on NSE, Link Intime

Orient Technologies IPO share allotment status is expected to be finalised on Monday, August 26. The mainboard IPO, which opened for bidding on August 21 and closed on August 23, received a bumper demand.

Orient Technologies IPO was subscribed 151.71 times at the end of the final day of bidding, receiving bids of over 113 crore shares against 74.49 shares on offer.

The strong demand for Orient Technologies IPO was driven by Non-Institutional Investors (NIIs) as the category was booked 300.53 times. The Qualified Institutional Buyers (QIBs) segment was booked 189.9 times, while the retail portion was subscribed 66.8 times.

After the successful bidding process, the investors eagerly await the share allotment. Successful investors will be notified about the share allocation through email and SMS. Shares of Orient Technologies are likely to be listed on the NSE and BSE on August 28.

How to check Orient Technologies IPO share allotment status on NSE

• Go to the NSE IPO allotment status page through the link www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Now, log in with your username and password. Create an account on the NSE website if you have not registered on the NSE.
• After logging in successfully, select Orient Technologies from the drop down menu from the issue name.
• Now, verify your PAN
• Next, enter your IPO application Number
• Finally, click on Submit to view the allotment details

How to check Orient Technologies IPO share allotment status on the registrar's website

• Go to the website of the registrar by clicking the link https://www.linkintime.co.in/
• Click on the Investor Services option from the dropdown menu
• Now, click on public issues
• From the list of company names, select Orient Technologies
• Enter the required details like your PAN and application number
• Click on submit to view the allotment status

You can also check the Orient Technologies IPO share allotment status on the BSE website by using your PAN, bank account and application number.

Orient Technologies IPO objective

Orient Technologies will use the net proceeds of the IPO to fulfil multiple non-strategic objectives, like the acquisition of an office space in Navi Mumbai. The company will also use the proceeds to meet capital expenditure requirements, which include the purchase of equipment necessary to establish a Network Operating Centre (NOC) and a Security Operation Centre (SOC) at Navi Mumbai. Orient Technologies will also use a portion of the funds to invest in equipment and devices necessary for the Device-as-a-Service (DaaS) offering.

Orient Technologies IPO details

The Orient Technologies IPO was a book-building issue worth ₹214.76 crore. The mainboard issue was a combination of a fresh issue of 58 lakh shares totalling ₹120 crores and an offer for sale (OFS) component of 46 lakh shares aggregating to ₹94.76 crore.

The price band of Orient Technologies IPO was fixed at ₹195 to ₹206 per share. The lot size was fixed at a minimum of 72 shares per investor and in multiples thereof. To bid for the IPO, retail investors had to make a minimum investment of ₹14,832.

About Orient Technologies

Orient Technologies Limited, incorporated in 1997, is an IT solutions provider. The Mumbai-based company is primarily engaged in offering services in IT infrastructure, IT Enabled Services (IteS) and Cloud and Data Management.