Share Market News : The initial public offering (IPO) of Orient Technologies Limited opened for bidding on 21st August 2024 and will be available until 23rd August 2024. The company has set the IPO price band between ₹195 to ₹206 per equity share. After the first day of bidding, the response from investors has been strong, reflecting growing interest in the market. Additionally, the grey market is showing positive signs, with Orient Technologies IPO Grey Market Premium (GMP) rising. As of today, the GMP stands at ₹33.
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Today, the Grey Market Premium (GMP) for Orient Technologies IPO is ₹33, an increase of ₹3 from yesterday’s GMP of ₹30. This uptick in GMP can be attributed to two main factors: a strong response to the IPO after the first day of bidding and the overall positive sentiment in the Indian stock market. If the bullish trend continues on Dalal Street, the GMP for Orient Technologies IPO could see further improvement.
As of 10:21 AM on the second day of bidding, Orient Technologies IPO has been subscribed 8.84 times. The retail portion has been particularly strong, with subscriptions at 13.78 times. The Non-Institutional Investor (NII) portion has been subscribed 8.63 times, while the Qualified Institutional Buyers (QIB) segment is at 0.02 times subscription.
Orient Technologies IPO Review
Analysts have given the Orient Technologies IPO a ‘subscribe’ rating. According to Anand Rathi, Orient Technologies operates in the IT solutions sector, providing advanced technological solutions across various business verticals. The company collaborates with well-known technology partners like Dell, Fortinet, and Nutanix. At the upper price band, the company is valued at a P/E of 20.7x, with a market cap of ₹8,580 million post-issue and a return on net worth of 27.2%. These factors make the IPO fairly priced, leading to a “SUBSCRIBE” recommendation.
B.P. Equities has also recommended subscribing to the IPO, citing Orient Technologies’ robust financial performance, expanding product and services portfolio, and increasing global footprint. The company’s long-term relationships with customers and collaborations with technology partners enhance its ability to design and innovate products tailored to specific customer needs. With a P/E of 20.7x on the upper price band based on FY24 earnings, the valuation is considered fair compared to its peers, reinforcing the “SUBSCRIBE” rating for the IPO
Faqs
1. What is the Orient Technologies IPO?
The Orient Technologies IPO is the initial public offering of Orient Technologies Limited, where the company is offering its equity shares to the public for the first time.
2. What are the IPO dates for Orient Technologies?
The IPO bidding opened on 21st August 2024 and will remain open until 23rd August 2024.
3. What is the price band for the Orient Technologies IPO?
The price band for the Orient Technologies IPO is set between ₹195 and ₹206 per equity share.
4. What is the Grey Market Premium (GMP) for Orient Technologies IPO today?
As of today, the Grey Market Premium (GMP) for Orient Technologies IPO is ₹33.
5. How many times has the Orient Technologies IPO been subscribed so far?
As of the morning of the second day of bidding, the IPO has been subscribed 8.84 times.
6. How can I apply for the Orient Technologies IPO?
You can apply for the Orient Technologies IPO through your stockbroker or financial institution by filling out the IPO application form and submitting it through online or offline channels.
7. What is the minimum investment required for the Orient Technologies IPO?
The minimum investment is typically one lot, which consists of a set number of shares. The exact number of shares per lot and the corresponding amount will depend on the final issue price within the price band.
8. What are the key strengths of Orient Technologies as a company?
Orient Technologies specializes in IT solutions and services, collaborating with major technology partners like Dell, Fortinet, and Nutanix. The company is known for its advanced technological solutions and strong customer relationships.
9. What is the expected listing date for Orient Technologies shares?
The exact listing date will be announced after the IPO closes and the shares are allotted. It typically occurs within a week of the IPO closing date.
10. Should I subscribe to the Orient Technologies IPO?
Analysts have recommended a “SUBSCRIBE” rating for the IPO, citing fair valuations, strong business operations, and the company’s growth potential in the IT solutions sector. However, investors should consider their own financial situation and investment goals before subscribing.