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Introduction To Orient IPO
Orient Technologies IPO is a book-built offering worth Rs 214.76 crores. It comprises a fresh issue of 0.58 crore shares totalling Rs 120.00 crores and an offer for sale of 0.46 crore shares totalling Rs 94.76 crores.
Orient Technologies’ IPO subscription commences on August 21, 2024, and concludes on August 23, 2024. IPO allotment is anticipated to be finalised on Monday, August 26, 2024. Oriental Technologies’ IPO is scheduled for listing on BSE and NSE. The tentative listing date is Wednesday, August 28, 2024.
Orient Technologies IPO’s price band is fixed at Rs 195 to Rs 206 per share. The minimum lot size for the application is 72 shares. Retail investors need a minimum investment of Rs 14,832. The minimum investment lot size for small non-institutional bidders (sNII) is 14 lots (1,008 shares), totalling Rs 2,07,648. For big non-institutional bidders (bNII), it is 68 lots (4,896 shares), totalling Rs 10,08,576.
Elara Capital (India) Private Limited is the book-running lead manager for Orient Technologies’ IPO, and Link Intime India Private Ltd is the issue’s registrar.
Orient Technologies IPO Ltd details
Orient Technologies Ltd IPO key dates:
| Particulars | Details |
| Orient Technologies IPO Date | August 21, 2024 to August 23, 2024 |
| Face Value | Rs 10 per share |
| Orient Technologies IPO share price band | Rs 195 to Rs 206 per share |
| Orient Technologies IPO Lot size | 72 Shares |
| Total Issue Size | 10,425,243 shares (aggregating up to Rs 214.76 Cr) |
| Fresh Issue | 58,25,243 shares (aggregating up to Rs 120.00 Cr) |
| Offer for Sale | 46,00,000 shares of Rs 10 (aggregating up to Rs 94.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share-holding pre-issue | 3,58,16,500 |
Tentative schedules of IPO events:
| Particulars | Details |
| Orient Technologies IPO Open Date | Wednesday, August 21, 2024 |
| Orient Technologies IPO Close Date | Friday, August 23, 2024 |
| Basis of Allotment | Monday, August 26, 2024 |
| Initiation of Refunds | Tuesday, August 27, 2024 |
| The credit of Shares to Demat | Tuesday, August 27, 2024 |
| Orient Technologies IPO Listing Date | Wednesday, August 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 23, 2024 |
Different Investor Categories and shares offered:
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Application categories, Orient Technologies IPO lot size and their value:
| Application | Lots | Shares | Amount (in Rs) |
| Retail (Min) | 1 | 72 | 14,832 |
| Retail (Max) | 13 | 936 | 1,92,816 |
| S-HNI (Min) | 14 | 1,008 | 2,07,648 |
| S-HNI (Max) | 67 | 4,824 | 9,93,744 |
| B-HNI (Min) | 68 | 4,896 | 10,08,576 |
Orient Technologies Ltd Company Details:
Founded in July 1997, Orient Technologies Limited is a rapidly expanding provider of information technology (IT) solutions. Its main office is located in Mumbai, Maharashtra. The company has acquired extensive expertise, which focuses on developing products and solutions tailored to specific segments within its business sectors.
These segments are as follows:
IT Infrastructure: Offerings consist of Data Center Solutions and End-User Computing
IT Enabled Services (IteS): Offerings encompass Managed Services, Multi-Vendor Support Services, IT Facility Management Services, Network Operations Centre Services, Security Services and Renewals.
Cloud and Data Management Services: Offerings involve migration of workloads from data centres to cloud
The organisation has a broad array of personalised offerings. It can customise solutions to meet the requirements of its customers. This has attracted significant clients from diverse industries. It serves major public and private sector entities in various customer sectors. These include banking, financial services, insurance (BFSI), IT and healthcare/pharmaceutical.
Orient Technologies Company Details:
Orient Technologies Limited, founded in July 1997, is a rapidly expanding IT solutions provider located in Mumbai. As of June 30, 2024, the company employs 1,482 permanent workers.
The company’s client base includes Blue-chip Corporate Investment Centre Private Limited (Blue-chip) Tradebulls Securities Private Limited (Tradebulls), Vasai Janata Sahakari Bank Limited (VJS Bank) and Vasai Vikas Sahakari Bank Limited (VKS Bank) Integreon Managed Solutions India Private Limited (Integreon) Coal India Limited (Coal India) Mazagon Dock Shipbuilders Limited (Mazagon Dock) Joint Commissioner of Sales Tax (GST Mahavikas) Mumbai and D’Décor Exports Private Limited (D’Décor)
The company has achieved several certifications. These include ISO 27001:2013 for managing information security, ISO 20000-1:2018 for managing information technology services, ISO 9001:2015 for maintaining quality management systems, and ISO/IEC 27001:2013 for information security management systems. Additionally, we have obtained an ISO 22301:2012 certificate for managing business continuity and a CMMI Maturity Level 3 Certificate.
The company’s main office is in Mumbai, Maharashtra. We have sales and service offices in cities across India, such as Navi Mumbai and Pune in Maharashtra, Ahmedabad in Gujarat, New Delhi, Bengaluru in Karnataka, and Chennai in Tamil Nadu.
Financials Of The Orient Technologies IPO:
Major financial information for the year ended March 31 2021; March 31, 2022; March 31 2023; March 31, 2024.
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets (Rs in crores) | 311.14 | 215.25 | 176.32 | 112.45 |
| Revenue (Rs in crores) | 606.86 | 542.01 | 469.12 | 248.96 |
| Profit After Tax (Rs in crores) | 41.45 | 38.3 | 33.49 | 0.13 |
| Net Worth (Rs in crores) | 175.31 | 128.82 | 94.11 | 61.29 |
| Reserves and Surplus (Rs in crores) | 138.79 | 111.32 | 76.61 | 44.79 |
| Total Borrowing (Rs in crores) | 4.82 | 12.86 | 2.28 | 9.22 |
Key performance indicators (financial ratios) and their values:
| KPI | Values |
| Return on equity (ROE) | 27.26 |
| Return on capital employed (ROCE) | 28.42 |
| Return on net worth (RoNW) | 23.64 |
| Profit to Book value (P/BV) | 4.21 |
| Profit after tax (PAT) Margin (%) | 6.87 |
Objectives of the IPO
The company plans to use funds for the following purposes:
1) Acquiring office premises in Navi Mumbai.
2) Funding capital expenses, including equipment for setting up a Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai property. Equipment for the Device-as-a-Service (DaaS) offering will also be included.
3) For general corporate purposes.
Risks Associated With The Orient Technologies IPO
1) Top 10 customers and some industries significantly contribute to the company’s business. If these customers recover or reduce purchases, it will help businesses.
2) The company heavily relies on a few vendors/suppliers. Typically, it does not make long-term contracts or arrangements with them. Losing these vendors or facing price increases will significantly impact business and revenue.
3) Defaults or delays in customer payments and receivables may hurt the company’s future profits and cash flows.
4) The company intends to use a portion of Net Proceeds to acquire identified office premises at Navi Mumbai, for which it has entered into an Agreement for Sale. The inability to purchase office premises could adversely affect the company’s financial condition, operations results, and growth prospects.
5) In the past, the company has incurred negative net cash from operating, investing and financing activities. Negative net cash in these activities in the present or future could hurt the company’s future growth prospects.
Orient Technologies IPO GMP
The latest GMP for Orient Technologies IPO is Rs 0 as of the most recent update on August 16 2024, at 03:24 PM. Considering the price band of Rs 195 to Rs 206. The projected listing price amounts to Rs 206 (cap price + today’s GMP). Anticipated percentage gain/loss per share is 0.00%
Frequently Asked Questions (FAQs)
What is the issue size of Orient Technologies IPO?
The issue size of Orient Technologies IPO is Rs 214.76 crores.
What is the price band range of Orient Technologies Ltd’s IPO?
The price band range of Orient Technologies IPO is Rs 195 to Rs 206.
What does general corporate purpose mean as per SEBI guidelines?
It includes identified purposes for which no specific amount is allocated. It may cover capital expenditures, operating expenses, and working capital. Many companies go public to raise more money for these purposes.
What was the total revenue generation as of the year ended March 31, 2024, for Orient Technologies?
Total revenue generation as of the year ended March 31, 2024, for Orient Technologies is Rs 606.86.
By how much percentage PAT has increased from financial year 2022-2023 to 2023-2024?
PAT has increased by 8.22% from the financial year ended March 31, 2023, to March 31, 2024.
What is the tentative listing date of shares on exchanges of Orient Technologies Ltd IPO?
The tentative date of listing of shares of Orient Technologies Ltd IPO is August 28 2024.
When is Orient Technologies IPO Ltd’s opening date & closing date?
August 21, 2024, and August 23, 2024, respectively, are Orient Technologies IPO’s opening and closing dates.
Mention the Orient IPO Owner details.
The promoters or owners of Orient Technologies Limited are Ajay Baliram Sawant Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre.
Where can you find Orient Technologies IPO RHP and DHRP?
Orient Technologies IPO RHP (Red Herring Prospectus) on BSE (Bombay Stock Exchange). Orient Technologies IPO DRHP (Draft Red Herring Prospectus) found on SEBI’s website.
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