Orient Technologies IPO Allotment Finalised: GMP Hints at Strong Listing as Investors Await Debut

The IPO (Initial Public Offering) of Orient Technologies Ltd, an IT solutions provider, received a strong response from investors, and the allotment status has been finalised.

Investors who were allotted shares in the Orient Technologies IPO are now focusing on the listing of the shares, which is likely to happen tomorrow, August 28.

The Orient Technologies IPO opened for subscription on August 21 and closed on August 23. The allotment was finalised on August 26, with the shares expected to list on August 28.

Before the listing, the grey market is showing positive signs for Orient Technologies shares.

Orient Technologies IPO Grey Market Premium (GMP) Today

Orient Technologies shares are trading at a premium in the unlisted market. As per stock market observers, the grey market premium (GMP) for Orient Technologies today is ₹83 per share. This suggests that the shares are trading ₹83 higher than the issue price in the grey market.

Considering this premium and the issue price, the estimated listing price for Orient Technologies shares is around ₹289 per share, which represents a 40% increase over the IPO price of ₹206 per share. However, it’s important to note that grey market premiums are just indicative and should not be the sole factor in making investment decisions.

Orient Technologies IPO Details

The IPO was open for subscription from August 21 to August 23, with the allotment finalised on August 26. The shares are expected to list on August 28 on both the BSE and NSE stock exchanges.

The price band for the IPO was set between ₹195 and ₹206 per share. At the upper end of the price band, the company raised ₹214.76 crore through the book-built issue. This included a fresh issue of 58.25 lakh shares worth ₹120 crore and an offer for sale of 46 lakh shares amounting to ₹94.76 crore.

The IPO was oversubscribed by 151.71 times overall, with the retail category subscribed 66.87 times, the Qualified Institutional Buyers (QIB) category 189.90 times, and the Non-Institutional Investors (NII) category 300.60 times.

Elara Capital (India) Private Limited served as the book-running lead manager for the IPO, while Link Intime India Private Ltd acted as the IPO registrar.