Elara Capital (India) Private Limited is the sole the book running lead manager
MUMBAI, Aug 23 (The CONNECT) – The Initial Public Offering of IT solutions provider Orient Technologies Limited was subscribed 151.66 times as the subscriptions closed today.
According to the data available on the stock exchanges, the issue received bids of 1,12,99,91,256 shares against the offered 74,49,846, at a price band of ₹195-206
Non-Institutional Investors and Qualified Institutional Buyer portions were subscribed 300.56 times and 189.9 times respectively, whereas Retail segment 66.82 times.
Elara Capital (India) Private Limited is the sole the book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
Company Information
Incorporated in the year 1997, Mumbai based Orient Technologies is an information technology (IT) solutions provider with business verticals such as IT Infrastructure, IT Enabled Services (ITeS), IT Facility Management Services, and Cloud and Data Management Services.
It collaborates with a wide range of technology partners including Dell International Services India Private Limited (Dell) and Fortinet, Inc. (Fortinet) and Nutanix Netherlands B.V. (Nutanix) for technologically advanced solutions, comoany CMD Ajay Sawant said during the IPO roadshow.
The company has established a strong relationship with marquee customers such as Coal India, Mazagon Dock, D’Décor, Jyothy Labs, ACG, Integreon, Bluechip, Tradebulls, VJS Bank, VKS Bank, and Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai.
As of June 30, 2024, Orient Technologies’ Order Book stood at ₹ 1,012.02 million.
Orient Technologies Limited’s revenue from operations during the fiscal year 2024 increased to Rs 6,028.93 million from Rs 5,351.02 million in the previous year, primarily due to an increase in revenue from Cloud and Data Management Services, and ITeS. Profit after tax increased by 8.22% from ₹ 382.98 million in Fiscal 2023 to ₹ 414.48 million in Fiscal 2024.
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