Orient Technologies Ltd. was originally incorporated on July 04, 1997. It is an information technology (IT) solutions provider. A key facet of its product and service offerings is the ability to tailor and customise its offerings to the specific needs of the customers.
| Bidding Dates |
|---|
| 21 Aug 2024 - 23 Aug 2024 |
| Subscription |
|---|
| 151.66x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,040 | 1 | 13 | 72 | 10.4 M | ₹195 - ₹206 | 73.21 % | ₹2032.9 M - ₹2147.6 M | RHP DOC |
Orient Technologies IPO SUBSCRIPTION STATUS
23 Aug '24Orient Technologies IPO overall subscription rate was 151.66 times the total available shares
Orient Technologies IPO retail subscription rate was 66.8 times in the retail segment
Orient Technologies IPO non-institutional investor subscription rate was 300.55 times in the non-institutional investor category
Orient Technologies IPO Qualified Institutional Bidder subscription rate was 189.9 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Aug 2024 (Day 3) | 66.8x | 300.55x | 189.9x |
22 Aug 2024 (Day 2) | 24.49x | 20.97x | 0.16x |
21 Aug 2024 (Day 1) | 10.5x | 6.17x | 0.02x |
Orient Technologies FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 414.5 | 6,028.9 | 222.9 | 180.7 | 9.4% |
| FY23 | 383.0 | 5,351.0 | 19.5 | 16.1 | 9.1% |
| FY22 | 334.9 | 4,674.4 | 304.8 | 284.7 | 9.8% |
Orient Technologies IPO SUBSCRIPTION STATUS DETAILS
Orient Technologies had 10.4 M shares on offer
Orient Technologies IPO offer price was in the range ₹195 - ₹206
Orient Technologies IPO minimum Investment was ₹14040
Orient Technologies IPO issue size was ₹ 2032.9 M - ₹ 2147.6 M
Orient Technologies had a minimum lot size of 72 Shares per application
Orient Technologies NUMBER OF SHARES ON OFFER
Orient Technologies IPO IMPORTANT DATES
| Issue Open Date | 21 Aug 2024 |
| Issue close Date | 23 Aug 2024 |
| Allotment Date | 26 Aug 2024 |
| Refund Date | 27 Aug 2024 |
| Demat Account Credit Date | 27 Aug 2024 |
| Listing Date | 28 Aug 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Orient Technologies Allotment Status | Exchange |
Orient Technologies IPO subscription opened on 21 Aug 2024, and closed on 23 Aug 2024
IPO allotment for Orient Technologies was finalized on Monday, 26 Aug 2024
IPO listing for Orient Technologies was on NSE and BSE on Wednesday, 28 Aug 2024
Orient Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 187.3 |
| Listing Open Price | 288.0 |
| Listing Close Price | 302.4 |
| Listing Gain% | 39.8% |
| Current Gain% | 38.2% |
Orient Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Orient Technologies Ltd. | 258.8 | 1077.5 | 425.1 | -4.5 | 1.4 | 0.8 | 0.5 | 870.7 | 2.9 | 2.8 | -94.5 | 0.6 | -94.5 |
| Tata Consultancy Services Ltd. | 2452.7 | 887408.3 | 17.8 | 16.7 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1175.1 | 476862.2 | 15.7 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1356.6 | 368135.8 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 187.5 | 185737.1 | 14.1 | -7.8 | 2 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1635 | 160243.9 | 31.2 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Orient Technologies IPO Reports
Orient Technologies INFORMATION ON IPO ISSUE
About Orient Technologies
Orient Technologies Ltd. was originally incorporated on July 04, 1997. It is an information technology (IT) solutions provider. A key facet of its product and service offerings is the ability to tailor and customise its offerings to the specific needs of the customers.
Object of the Issue
- Acquisition of office premises in Navi Mumbai situated at unit no 1201, 1202, 1203, and 1204, in the Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, respectively
- Funding capital expenditure requirements for:
i. Purchase of equipment for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai Property
ii. Purchasing equipment and devices to offer a Device-as-a-Service (DaaS) offering. - General corporate purposes
Orient Technologies - PROMOTERS
| Name |
|---|
| Ajay Baliram Sawant |
| Umesh Navnitlal Shah |
| Ujwal Arvind Mhatre |
| Jayesh Manharlal Shah |
Orient Technologies Book Running Lead Manager
Elara Capital (India) Private Limited
otl.ipo@elaracapital.com
Orient Technologies Registrar to the Offer
Link Intime India Private Limited
orienttech.ipo@linkintime.co.in
Orient Technologies Strengths
Wide ranging and diversified IT solutions
The company offers a wide-ranging and diversified bouquet of product and service offerings and classifies its business into 3 verticals viz., IT Infrastructure, ITeS, and Cloud and Data Management Services.
Track record of financial performance
The company's revenue from operations grew at a CAGR of 47.09% between FY21-23. Its revenue from operations during the 6-month period that ended September 30, 2023, and during FY23, FY22, and FY21, was Rs 266.31 crore, Rs 535.1 crore, Rs 467.44 crore, and Rs 247.34 crore, respectively.
Facilities and infrastructure
The company utilises cloud-based enterprise resource planning tools for the management of finances and for the supply chain of its products and services.
Orient Technologies Risks
Heavily reliant on top 10 customers
While the customers may vary annually, the company is heavily dependent on the contribution of its top 10 customers every year. Consequently, its business and financial condition in any given financial year are reliant on its top 10 customers.
Heavily reliant on a few vendors
The company typically places purchase orders with its vendors for the purchase of the aforementioned products and does not enter into long-term contracts or arrangements with its vendors. There is a risk it may not retain its top 10 vendors or secure favourable terms for future orders.
Large workforce
The company has a large workforce and its employee benefit expense is one of the larger components of its fixed operating costs. An increase in employee benefit expenses could reduce profitability. Further, any IT system failures or lapses on the part of its employees may lead to operational interruption, inabilities, or reputational harm.
IPO FAQs
Orient Technologies Ltd. IPO listing opened at Rs 288.00 while the issue price was Rs 206.00 giving 39.81% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 187.27 giving 38.17% gains since its IPO listing.
This IPO consists of an offer for sale of up to Rs 94.8 crore, of 4,600,000 shares. It also consists of a fresh issue of Rs 120.0 crore.
The promoters of the company are Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre and Jayesh Manharlal Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 195.0 - 206.0.
The IPO application opens on Aug 21, 2024 and closes on Aug 23, 2024.
The minimum lot size for the IPO is 72. The maximum lot size for the IPO is 936.
For all category investors, the minimum application amount for this IPO is Rs. 14,040.0, the maximum value for this IPO is Rs 192,816.0.
This IPO will be allotted on Aug 26, 2024.
The refund will be credited to your account on Aug 27, 2024.
The allotted shares will be credited to your demat on Aug 27, 2024.
Orient Technologies Ltd.’s shares listed on the stock exchanges on Aug 28, 2024.