Orient Technologies Rs 215 crore IPO opens today: Key details to know

Orient Technologies IPO: Orient Technologies Ltd, a prominent IT solutions provider, is set to launch its Rs 215 crore share sale via initial public offering (IPO) today, which will remain open for public subscription until August 23. The company has priced its shares within a range of Rs 195 to Rs 206 per share.The IPO consists of a fresh issue of Rs 120 crore and an offer for sale (OFS) of up to 46 lakh equity shares, valued at Rs 95 crore at the upper end of the price band. Key promoters Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah will be selling shares through the OFS.Key Investment Highlights:IPO Details: Investors can bid for a minimum of 72 shares, with the equity shares set to be listed on both the BSE and NSE. Elara Capital (India) Pvt Ltd is the sole book-running lead manager for this IPO.Proceeds Utilisation: The funds raised will primarily be used for capital expenditure (Rs 79.65 crore), acquisition of office premises in Navi Mumbai (Rs 10.35 crore), and general corporate purposes.Business Overview: Established in 1997, Orient Technologies has grown into a key player in IT Infrastructure, IT Enabled Services (ITeS), and Cloud and Data Management Services. The company has a strong presence in the BFSI, IT, healthcare, and pharmaceutical sectors, with a notable client base including Coal India, Mazagon Dock, and D'Décor.Recent Ventures: The company recently launched a 'Device as a Service' (DaaS) offering, providing desktops, laptops, and other devices on a subscription basis, bundled with managed services.Order Book: As of June 30, 2024, Orient Technologies had an order book of Rs 101.20 crore.Certifications: The company holds ISO 27001:2013, ISO 20000-1:2018, ISO 9001:2015, and CMMI Maturity Level 3 certifications, reflecting its commitment to quality and security standards.

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Orient Technologies Rs 215 crore IPO opens today: Key details to know

The IPO consists of a fresh issue of Rs 120 crore and an offer for sale (OFS) of up to 46 lakh equity shares, valued at Rs 95 crore at the upper end of the pric

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