Orient Technologies Limited is set to launch its initial public offering (IPO) on August 21, 2024. The IPO will be open for bidding until August 23, 2024. The company has set the price range for its shares at ₹195 to ₹206 each, aiming to raise ₹214.76 crore from the offering.
Grey Market Premium for Orient Technologies IPO
Right now, Orient Technologies’ shares are trading in the grey market at a premium of ₹52. This is about 26% higher than the top end of the IPO price range. The premium suggests that investors might see a return of around 26% if they get shares through the IPO process. The overall market mood is positive, which could push the premium even higher when the IPO opens.
Caution Advised
Experts caution that the grey market premium is not always a reliable indicator of an IPO’s potential. Since the grey market is unregulated and doesn’t reflect the company’s financial health, investors should focus on reviewing Orient Technologies’ financial statements before making any investment decisions.
IPO Details
Bidding for the Orient Technologies IPO closes on August 23, 2024. The allotment of shares is expected to be finalized by August 26, 2024, with the IPO potentially listing on the BSE and NSE on August 28, 2024.
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