The recent IPO of Orient Technologies, an IT sector company, has been very successful for investors.
On Wednesday, the company’s shares were listed with a premium of over 40%. This means investors who bought shares earned more than 6,000 rupees in just one week.
Details of the IPO and Investor Earnings
Orient Technologies’ shares debuted at Rs 290 on the BSE, with a 40.78% premium, and at Rs 288 on the NSE, with a 39.80% premium.
The IPO price was set between Rs 195-206. Each lot of the IPO contained 72 shares, costing at least Rs 14,832 to buy.
After listing, the value of one lot increased to Rs 20,880, resulting in a profit of Rs 6,048 per lot for investors.
Information About the IPO and Its Use
Orient Technologies, based in Mumbai, offers IT services like data center solutions and cloud management.
Their Rs 214.76 crore IPO ran from August 21 to August 23. It included a fresh issue of Rs 120 crore and an offer for sale of Rs 94.76 crore.
The IPO was highly popular, with bids exceeding the available shares by 188.79 times in the QIB category, 310.33 times in the NII category,
and 68.93 times in the retail investor category. Overall, the IPO was subscribed 154.84 times.
The company plans to use the IPO funds for opening new offices in Navi Mumbai, buying equipment for device-as-a-software services, and covering general corporate needs.
