Orient Technologies IPO allotment status out. What GMP signals as focus shifts on listing date

Orient Technologies IPO: The initial public offering (IPO) of IT solutions provider Orient Technologies Ltd received strong response from investors and the IPO allotment status has been finalised.

Investors who have received shares in the Orient Technologies IPO allotment, will now watch out for the share listing. Orient Technologies IPO listing date is likely tomorrow, August 28.

Orient Technologies IPO opened for subscription on August 21 and closed on August 23. The IPO allotment was fixed on August 26 and the Orient Technologies IPO listing is expected to be on August 28.

Ahead of the Orient Technologies share listing, the trends in the grey market indicate a strong debut.

Orient Technologies IPO GMP Today

Orient Technologies IPO shares are commanding a decent premium in the unlisted market. According to the stock market observers, Orient Technologies IPO GMP today, or grey market premium today, is ₹83 per share. This indicates Orient Technologies shares are trading higher by ₹83 than their issue price in the grey market.

Considering the IPO GMP today and the issue price, the estimated Orient Technologies share listing price would be ₹289 apiece, a premium of 40% to the IPO price of ₹206 per share.

It is to be noted that the grey market premium is just an indicative price and should not be considered for making investment decisions.

Orient Technologies IPO Details

Orient Technologies IPO opened for public subscription on August 21, and closed on August 23. The IPO allotment was finalized on August 26 and the Orient Technologies share listing will be on August 28. The equity shares of Orient Technologies will be listed on both the stock exchanges, BSE and NSE.

Orient Technologies IPO price band was set at ₹195 to ₹206 per share. At the upper-end of the price band, the company raised ₹214.76 crore from the book-built issue which was a combination of fresh issue of 58.25 lakh shares worth ₹120 crore and offer for sale of 46 lakh shares aggregating to ₹94.76 crore.

The IPO has been subscribed 151.71 times in total. The public issue was subscribed 66.87 times in the retail category, 189.90 times in the Qualified Institutional Buyers (QIB) category, and 300.60 times in the Non-Institutional Investors (NII) category.

Elara Capital (India) Private Limited is the book running lead manager of the Orient Technologies IPO, while Link Intime India Private Ltd is the IPO registrar.

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