How To Check Orient IPO Allotment Status
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Orient Technologies IPO aimed at raising ₹214.76 crore is a combination of a fresh issue of 0.58 crore shares aggregating to ₹120.00 crores and an offer for sale of 0.46 crore shares aggregating to ₹94.76 crores. The Orient IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Orient IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Interarch IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "Orient" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Click Submit to retrieve the Orient IPO allotment status

Checking IPO Allotment Status on BSE:

  1. Go to the BSE website.
  2. Click on the ‘Equity' section and select "Orient" from the dropdown menu.
  3. Enter your application number or PAN.
  4. Click on the ‘Search' button.
  5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the Orient IPO allotment status will be visible.

Orient IPO Subscription Status

The subscription for Orient Technologies IPO began on August 21, 2024, and concluded on August 23, 2024. The IPO witnessed a total subscription of 151.71 times. The Qualified Institutional Buyers (QIBs) category was subscribed 189.90 times, while the Non-Institutional Investors category saw a subscription of 300.60 times. The Retail Individual Investors (RIIs) category was subscribed 66.87 times.

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Orient IPO GMP

The Orient Technologies IPO GMP stands at ₹82. Considering the upper price band of the IPO, the stock is expected to list at ₹288, indicating a potential gain of around 39.81% on listing. However, it’s important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance on listing.

Orient Technologies IPO Details

The price band for the IPO was set at ₹195 to ₹206 per share. The minimum lot size for an application was 72 shares, requiring a minimum investment of ₹14,832 by retail investors.

Orient Technologies intends to use the net proceeds from the offering for the acquisition of office premises at Navi Mumbai, funding capital expenditure requirements for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property, purchase of equipment and devices to offer Devise-as-a-Service (DaaS) offering, and for general corporate purposes.

Prior to the IPO launch, the company successfully secured ₹64.43 crores from anchor investors. This allocation was made on Tuesday, August 20, 2024, wherein 31,27,572 equity shares were allotted to anchor investors at ₹206 per share. Notable participants in the anchor round include both foreign and domestic institutions, such as Pine Oak Global, Saint Capital Fund, SB Opportunity Fund I, Elara Capital (Mauritius) Fund, and Rajasthan Global Securities.

Orient Technologies Details

Established in July 1997, Orient Technologies Limited is a rapidly growing information technology (IT) solutions provider based in Mumbai, Maharashtra. The company has developed extensive knowledge to create products and solutions for specific areas within its business verticals, including IT Infrastructure, IT Enabled Services (IteS), and Cloud and Data Management Services.

The shares of the company are tentatively scheduled to be listed on both the BSE and NSE, on Wednesday, August 28, 2024.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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