The IPO allotment for Orient Technologies Ltd, an IT solutions provider, has been finalized, marking a significant milestone for the company and its investors. The IPO, which opened on August 21 and closed on August 23, received an overwhelming response, with a subscription rate of 151.71 times. Investors are now eagerly awaiting the listing of shares, which is expected to take place on August 28. The grey market premium (GMP) indicates a strong debut, with shares trading at a premium of ₹83 per share.
Investor Response and Subscription Rates
The Orient Technologies IPO saw a remarkable response from various investor categories. Retail investors showed significant interest, with the retail category being subscribed 66.87 times. Non-institutional investors (NIIs) demonstrated even higher enthusiasm, subscribing 300.60 times. Qualified institutional buyers (QIBs) also participated actively, with a subscription rate of 189.90 times. This high level of interest reflects strong investor confidence in the company’s growth potential and market position.
The IPO price band was set between ₹195 and ₹206 per share, with the upper end of the price band being the preferred choice among investors. The company successfully raised ₹214.76 crore from the book-built issue, which included a fresh issue of 58.25 lakh shares worth ₹120 crore and an offer for sale of 46 lakh shares aggregating to ₹94.76 crore. The strong subscription rates across all categories underscore the robust demand for Orient Technologies shares.
Grey Market Premium and Listing Expectations
The grey market premium (GMP) for Orient Technologies shares has been a topic of keen interest among investors. As of the latest updates, the GMP stands at ₹83 per share, indicating that the shares are trading at a premium over the issue price. This suggests a strong debut for Orient Technologies on the stock exchanges, with the estimated listing price expected to be around ₹289 per share, a 40% premium to the IPO price of ₹206 per share.
It is important to note that the grey market premium is an indicative price and should not be solely relied upon for making investment decisions. However, the positive GMP trend does provide an optimistic outlook for the company’s listing. The shares of Orient Technologies will be listed on both the BSE and NSE, providing ample liquidity and trading opportunities for investors.
Allotment Status and Next Steps
Investors who applied for shares in the Orient Technologies IPO can check their allotment status on the IPO registrar’s portal, Link Intime India Pvt Ltd. The allotment status can be viewed by selecting the Orient Technologies IPO from the drop-down menu and entering the required details such as application number, demat account, or PAN. The shares will be credited to the demat accounts of successful allottees by August 27, while refunds for unsuccessful applications will be processed on the same day.
The listing of Orient Technologies shares is scheduled for August 28, and investors are eagerly anticipating the debut. The strong subscription rates, coupled with the positive grey market premium, suggest a promising start for the company’s shares on the stock exchanges. Investors are advised to stay updated with the latest market trends and make informed decisions based on their investment goals and risk appetite.
