Orient Technologies Share Price Highlights: Stock hits 5% upper circuit after listing at 39.8% premium

3 min read | Updated on August 28, 2024, 15:44 IST

SUMMARY

Orient Technologies Share Price: The initial share sale involved a fresh issuance of ₹120 crore and an offer-for-sale (OFS) component of shares worth ₹95 crore. The price band was fixed at ₹195-₹206 per share.

Orient Technologies is an information technology (IT) solutions provider.

Orient Technologies IPO Share Price Live Update at 3:40 pm: Orient Technologies shares closed at 5% upper circuit on Tuesday after debuting at a premium of 39.8% on the National Stock Exchange.

Orient Technologies IPO Share Price Live Update at 2:53 pm: Trading information

Traded volume (lakhs): 27.24
Traded value: ₹79.87 crore
Total m-cap: ₹1,259.25 crore

Orient Technologies IPO Share Price Live Update at 12:21 pm: Stock price stats

Current price: ₹302.4 (+5%)
Open: ₹288
High: ₹302.4
Low: ₹287.2

Orient Technologies IPO Share Price Live Update at 11:26 am: The market capitalisation of Orient Technologies stands at ₹1,259.25 crore.

Orient Technologies IPO Share Price Live Update at 10:25 am: Orient Technologies shares hit their upper circuit after listing at a 39.8% premium on the NSE.

The stock jumped 5% to ₹302.4 apiece - its upper circuit limit.

Orient Technologies IPO Share Price Live Update at 10:00 am: Shares of Orient Technologies listed at premium of 39.8% against the issue price of ₹206 per share on the National Stock Exchange (NSE). It gained 40.7% to ₹290 on the BSE.

Orient Technologies IPO Listing Live Update at 9:44 am: How will the company use IPO proceeds?

Proceeds from the fresh issue, totalling ₹79.65 crore, will be used to fund capital expenditure requirements, ₹10.35 crore for acquiring office premises at Navi Mumbai, and general corporate purposes.

Orient Technologies IPO Listing Live Update at 9:33 am: Financials

Particulars	FY22	FY23	FY24
Revenue	₹ 467 crore	₹ 535 crore	₹ 602 crore
Net Profit	₹ 33.4 crore	₹ 38.2 crore	₹ 41.4 crore

Orient Technologies IPO Listing Live Update at 9:10 am: Orient Technologies shares will make their debut on the stock exchanges at 10 am on Wednesday, August 28.

Orient Technologies IPO Listing LIVE: Shares of Orient Technologies will list on the stock exchanges - the National Stock Exchange (NSE) and the BSE- on Wednesday, August 28.

Orient Technologies IPO was subscribed 151.71 times during the three-day bidding window from August 21 to August 23. The ₹215-crore public offer received bids for 1,13,02,20,648 equity shares against 74,49,846 shares on offer.

The quota for non-institutional investors (NIIs) was subscribed 300.60 times, and the qualified institutional buyers (QIB) portion fetched 189.90 times the subscription. The part set aside for retail investors attracted 66.87 times the subscription.

The information technology (IT) solutions provider raised ₹64.42 crore from anchor investors before the IPO.

Also Read: Upcoming IPOs: Patel Retail, Garuda Construction get SEBI's approval to float public offers

The initial share sale was a fresh issuance of ₹120 crore as well as an offer-for-sale (OFS) component of shares worth ₹95 crore by promoters. The price band was fixed at ₹195-₹206 per share.

Under the OFS, Umesh Navnitlal Shah, Ajay Baliram Sawant,Ujwal Arvind Mhatre, and Jayesh Manharlal Shah are offloading company shares.

About Orient Technologies

Orient Technologies provides products and solutions for specialised disciplines in IT-enabled services (IteS), IT Infrastructure, and cloud and data management services (CDMS).

It has clients in industries such as pharmaceuticals, healthcare, IT & ITeS, and Banking, Financial Services, and Insurance (BFSI).

To know more about IPOs listing, schedule and upcoming IPOs, click here.

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Orient Technologies Share Price Highlights: Stock hits 5% upper circuit after listing at 39.8% premium

About Orient Technologies

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