Orient Technologies IPO opened to investors on August 21 and closed on August 23. The IPO was subscribed to a total of 154.84 times more than the offered shares. The retail segment was booked 68.93 times and the QIB category 188.79 times. The company collected a sum of Rs 214.76 per equity share. Orient Technologies IPO GMP Today The company’s shares were fetching a premium of over 45% in the grey market. It is an unofficial place where shares trade illegally ahead of listing. Investors keep an eye on GMP to track listing gains. Orient Technologies IPO Details The company set the price band between Rs 195 to Rs 206 per equity share. The company collected through a combination of fresh shares of 5.8 million and an offer for sale of 4.6 million. The allotment of shares was finalised on August 26. Minimum Investment Requirements A retail investor had to bid for at least 62 shares, amounting to Rs 14,832. Meanwhile, there were different investment requirements for small NIIs and big NIIs. About Orient Technologies “At the upper price band company is valuing at a P/E of 20.7x with a market cap of Rs 8,580 million post issue of equity shares and return on net worth of 27.2%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a ‘Subscribe’ rating to the IPO,” said Anand Rathi Research in an IPO note. BRLM and Registrar Elara Capital (India) was the lead book runner for the issue while Link Intime registrar of the IPO.
