Orient Technologies is making its stock market debut today, August 28, after its initial public offering (IPO) saw strong demand from investors. The IPO allotment was finalized on August 27, and the shares will start trading at 10:00 AM today.
Analysts predict that Orient Technologies’ shares will list at a premium of around 38% to 40% above the issue price. The grey market premium (GMP) for the shares is currently ₹83, indicating that they are trading higher than their issue price in the unlisted market.
Based on the GMP and the IPO price of ₹206 per share, the estimated listing price for Orient Technologies shares is around ₹289 per share, a 40% premium.
Experts believe that Orient Technologies, a well-established IT solutions provider, is set for a strong stock market debut. The IPO was highly subscribed, with a total subscription of 151.71 times. The retail portion was booked 66.87 times, and the non-institutional investor (NII) quota was subscribed 300.60 times. Qualified Institutional Buyers (QIBs) also showed strong interest, with a subscription of 189.90 times.
Analysts suggest holding the shares for medium to long-term gains, as Orient Technologies is expected to benefit from its strong market position, diverse clientele, and consistent financial growth. Despite challenges like competition and reliance on key clients, the company’s fundamentals are strong, and the IPO’s valuation is considered reasonable.
Orient Technologies raised ₹214.76 crore from the IPO, with the price band set between ₹195 to ₹206 per share. The shares will be listed on both the BSE and NSE.
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