The IPO (Initial Public Offering) of Orient Technologies, a small company, has seen a lot of interest from investors.
It opened for subscription on August 21, 2024, and closed on August 23, 2024. The IPO was hugely popular, being subscribed more than 154 times. The total size of the public issue is Rs 214.76 crore.
Once listed, the company’s shares will be available for trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Strong Performance in Grey Market
The shares of Orient Technologies are also performing well in the grey market, where they are being traded at a premium of Rs 70.
The IPO price of the company’s shares is set at Rs 206. Based on the current grey market premium (GMP),
the shares could be listed at around Rs 276, which could mean a 35% profit for investors who receive an allotment in the IPO.
The shares are expected to be listed on the market on Wednesday, August 28, 2024.
Breakdown of IPO Subscriptions
The IPO was subscribed a total of 154.84 times. The portion reserved for retail investors was subscribed 68.93 times, while the non-institutional investors’ (NII) quota was subscribed 310.03 times.
The Qualified Institutional Buyers (QIB) category saw subscriptions of 188.79 times. Retail investors could bid for a minimum of 1 lot
and a maximum of 13 lots, with each lot containing 72 shares. This means that retail investors had to invest at least Rs 14,832 in the IPO.
