Today is the last day to bid for the Initial Public Offering (IPO) of Orient Technologies. This IPO opened on 21 August. In two days, the IPO of Orient Technologies has been subscribed a total of 17.51 times. The IPO was subscribed 25.62 times in the retail category, 0.16 times in Qualified Institutional Buyers (QIB) and 21.75 times in the Non-Institutional Investors (NII) category. On August 28, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Orient Technologies wants to raise Rs 214.76 crore through this issue. For this, the company is issuing 5,825,243 fresh shares worth Rs 120 crore. At the same time, the existing investors of the company are selling 4,600,000 shares worth Rs 94.76 crore through Offer for Sale (OFS). If you are also planning to invest in it, then we are telling you how much you can invest in it. How much minimum and maximum money can you invest?
Orient Technologies has fixed the price band of this issue from Rs 195 to Rs 206. Retail investors can bid for at least one lot i.e. 72 shares. If you apply for 1 lot as per the upper price band of IPO of Rs 206, then you will have to invest ? 14,832 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 936 shares. For this, investors will have to invest Rs 1,92,816 as per the upper price band. 35% of the issue reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Premium of Orient Technologies in gray market is 33.98%
Before listing, the company’s share has reached a premium of 33.98% i.e. ? 70 per share in the gray market. In such a situation, according to the upper price band ? 206, its listing can be done at ? 276. However, this can only be estimated, the price of the listing of the share is different from the price of the gray market. Orient Technologies was founded in 1997
Orient Technologies Limited was founded in 1997. The company provides information technology (IT) solutions. The company works to create products solutions for special areas within its business vertical. Orient is headquartered in Mumbai. What is an IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
