Orient Technologies Limited IPO Detail
Incorporated in July 1997, Orient Technologies Limited is a fast-growing information technology (IT) solutions provider headquartered in Mumbai, Maharashtra. The company has developed extensive knowledge to create products and solutions for specific areas within its business verticals.
These areas are outlined below:
IT Infrastructure: Products and solutions include Data Centre Solutions and End-User Computing;
IT Enabled Services (IteS): Services include Managed Services, Multi-Vendor Support Services, IT Facility Management Services, Network Operations Centre Services, Security Services, and Renewals; and
Cloud and Data Management Services: Services include migration of workload from data centres to cloud.
The company's wide range of customized offerings and its ability to tailor solutions to meet customers' specific needs have enabled it to attract prominent clients across various industries. They serve leading public and private sector entities in diverse customer industries, such as banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceutical.
Orient Technologies Limited, established in July 1997, is a fast-growing IT solutions provider based in Mumbai. It specializes in IT infrastructure, IT-enabled services (IteS), and cloud and data management services.
The clientele of the company includes Bluechip Corporate Investment Centre Private Limited (Bluechip), 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 received the following certifications: ISO 27001:2013 for Information Security Management System, ISO 20000-1:2018 for Information Technology Services Management, ISO 9001:2015 for Quality Management System, and ISO/IEC 27001:2013 for Information Security Management System. Additionally, we have been awarded the ISO 22301:2012 certificate for our business continuity management systems and the CMMI Maturity Level 3 Certificate.
The company's corporate office is in Mumbai, Maharashtra, and sales and services offices are located in various cities in India, such as Navi Mumbai and Pune in Maharashtra, Ahmedabad, Gujarat, New Delhi, Bengaluru, Karnataka, and Chennai, Tamil Nadu.
The company has 1,388 permanent employees as of December 31,2023.
Company Promoters
Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre are the promoters of the company.IPO Details
| IPO Opening Date | Aug 21, 2024 |
| IPO Closing Date | Aug 23, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹195 - 206 per equity share |
| Market Lot | 72 Shares |
| Min Order Quantity | 72 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹214.76 Cr |
| Fresh Issue | ₹120.00 Cr |
| Offer for Sale | ₹94.76 Cr |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.02x | 10.38x | 4.46x | 6.44x | 11.21x | 6.99x |
| Day 2 | 0.16x | 33.14x | 16.06x | 21.75x | 25.62x | 17.51x |
| Day 3 | 188.79x | 243.20x | 343.45x | 310.03x | 68.93x | 154.84x |
IPO Tentative Timetable
The Orient Technologies Limited IPO open date is Aug 21, 2024, and the close date is Aug 23, 2024. The issue may list on Aug 28, 2024.
| IPO Open Date | Aug 21, 2024 |
| IPO Close Date | Aug 23, 2024 |
| Basis of Allotment Date | Aug 26, 2024 |
| Initiation of Refunds | Aug 27, 2024 |
| Credit of Shares to Demat Account | Aug 27, 2024 |
| IPO Listing Date | Aug 28, 2024 |
IPO Lot Size
The Orient Technologies Limited IPO market lot size is 72 shares. A retail-individual investor can apply for up to 13 lots (936 shares or ₹192816).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 72 | ₹14832 |
| Maximum | 13 | 936 | ₹192816 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.96% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-23 | 238.45 | 268.17 | 16.40 |
| 31-Mar-23 | 215.25 | 542.01 | 38.30 |
| 31-Mar-22 | 176.32 | 469.12 | 33.49 |
Objects of the Issue:
The Company proposes to utilise the Net Proceeds towards the following objects:
- Acquisition of office premise at Navi Mumbai situated at unit no 1201, 1202, 1203, and 1204, respectively which are situated at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property);
- Funding capital expenditure requirements for:
i.Purchase of equipment for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property; and
ii.Purchase of equipment and devices to offer Devise-as-a-Service (DaaS)offering.(collectively, Capital Expenditure). - General corporate purposes.
Orient Technologies Limited IPO Registrar:
Link Intime India Private Ltd
Orient Technologies Limited IPO Lead Manager(s):
Elara Capital (India) Private Limited
Company Contact Information:
Orient Technologies Limited
Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Opp. Akruti Point Central Andheri East
Mumbai
Mumbai
