The Orient Technologies IPO is a book-built offering valued at Rs [.] crore. It includes a fresh issue of Rs 120.00 crore and an offer for sale of 0.46 crore shares.
The IPO will be open for subscription from August 21, 2024, to August 23, 2024. Allotments for the IPO are anticipated to be finalized on Monday, August 26, 2024. The shares are expected to be listed on the BSE and NSE, with a tentative listing date set for Wednesday, August 28, 2024.
The price bands for the Orient Technologies IPO have not yet been announced.
- Book Running Lead Manager – Elara Capital (India) Pvt. Ltd.
- Registrar of the Issue – Link Intime India Private Ltd.
Below are the details of Orient Technologies Limited IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Orient Technologies IPO 2024 Details
| IPO Date | August 21, 2024 to August 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | [.] shares (aggregating up to ₹0.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹120.00 Cr) |
| Offer for Sale | 4,600,000 shares of ₹10 (aggregating up to ₹0.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 35,816,500 |
Orient Technologies IPO 2024 Timeline
| IPO Open Date | Wednesday, August 21, 2024 |
| IPO Close Date | Friday, August 23, 2024 |
| Basis of Allotment | Monday, August 26, 2024 |
| Initiation of Refunds | Tuesday, August 27, 2024 |
| Credit of Shares to Demat | Tuesday, August 27, 2024 |
| Listing Date | Wednesday, August 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 23, 2024 |
Orient Technologies Limited IPO 2024 Promoter Holding
Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre are the promoters of the company.
| Share Holding Pre Issue | 97.96% |
| Share Holding Post Issue | 2.04% |
Orient Technologies IPO 2024 Financial Information (Restated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 238.45 | 215.25 | 176.32 | 112.45 |
| Revenue | 268.17 | 542.01 | 469.12 | 248.96 |
| Profit After Tax | 16.40 | 38.30 | 33.49 | 0.13 |
| Net Worth | 145.04 | 128.82 | 94.11 | 61.29 |
| Reserves and Surplus | 110.04 | 111.32 | 76.61 | 44.79 |
| Total Borrowing | 6.58 | 12.86 | 2.28 | 9.22 |
| Amount in ₹ Crore | ||||
Orient Technologies Limited 2024 Objectives
The Company plans to use the Net Proceeds for the following purposes:
- Acquisition of office space in Navi Mumbai, specifically units 1201, 1202, 1203, and 1204 at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (referred to as the Navi Mumbai Property).
- Funding capital expenditures for:
- Purchasing equipment for establishing a Network Operating Centre (NOC) and a Security Operation Centre (SOC) at the Navi Mumbai Property.
- Acquiring equipment and devices for the Devise-as-a-Service (DaaS) offering (collectively known as Capital Expenditure).
- General corporate purposes.
Orient Technologies Limited IPO 2024 Review
Orient Technologies Limited, founded in July 1997 and headquartered in Mumbai, is a rapidly growing IT solutions provider. It specializes in:
- IT Infrastructure: Data Centre Solutions and End-User Computing.
- IT Enabled Services (IteS): Managed Services, Multi-Vendor Support, IT Facility Management, Network Operations Centre, Security Services, and Renewals.
- Cloud and Data Management: Migration of workloads from the data centers to the cloud.
The company serves prominent clients across sectors such as BFSI, IT, ITeS, and healthcare. Notable clients include Bluechip, Tradebulls, VJS Bank, VKS Bank, Integreon, Coal India, Mazagon Dock, GST Mahavikas, and D’Décor.
Orient Technologies holds several certifications: ISO 27001:2013, ISO 20000-1:2018, ISO 9001:2015, ISO/IEC 27001:2013, ISO 22301:2012, and CMMI Maturity Level 3.
The company operates from its Mumbai headquarters and has additional offices in Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai. As of December 31, 2023, it employs 1,388 permanent staff.