Orient Technologies’ initial public offering (IPO) has opened for subscription, with the company aiming to raise funds for expansion and debt repayment. Here’s what you need to know about the IPO:
Orient Technologies is a software development company that provides services to various industries, including healthcare, finance, and e-commerce. The company’s IPO consists of a fresh issue of equity shares and an offer for sale by existing shareholders.
The IPO is priced at ₹32-35 per share, with a lot size of 428 equity shares. The minimum investment required is ₹14,936. The issue will close on August 24.
As of the first day of the IPO, the subscription status is as follows: the retail portion is subscribed 0.41 times, the qualified institutional buyers’ portion is subscribed 0.14 times, and the non-institutional investors’ portion is subscribed 0.02 times.
The grey market premium (GMP) for Orient Technologies’ IPO is currently ₹4-6 per share, indicating a positive sentiment among investors.
Analysts have mixed views on the IPO, with some recommending a ‘subscribe’ rating and others suggesting a ‘avoid’ rating. The company’s financial performance has been inconsistent, and the industry is highly competitive.
Overall, investors should carefully evaluate the company’s financials, industry trends, and growth prospects before making an investment decision.