Orient Technologies IPO Last Day: Orient Technologies IPO will close its issue for the subscription on August 23. The issue has been subscribed 17.5 times more than the offered shares. The retail segment of the issue was booked over 25 times while the NII category was booked a total of 21.75 times. The issue was opened for bidding on August 21 to raise Rs 214.76 crore. GMP The stocks of Orient Technologies were commanding a premium of 34% in the grey market. It is an unofficial place where shares trade illegally ahead of listing. Market participants take cues from GMP to track listing gains. Price Band The company set the IPO price band in a range of Rs 195 to Rs 206 per equity share. Allotment and Listing The allotment of shares is expected to be finalised by August 26. The listing is likely to take place on NSE and BSE on August 28, as per the tentative schedule. Expert’s Take “Orient Technologies is engaged in IT solutions and related services providing across the business verticals. The company’s business operations involve technologically advanced solutions for which the company collaborates with a wide range of technology partners including Dell International Services India Private Limited (Dell), Fortinet Inc. (Fortinet), and Nutanix Netherlands B.V. (Nutanix). 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. Minimum Investment Requirement A retail buyer needs to apply for a minimum of 72 shares in a single lot, which amounts to Rs 14,832. Meanwhile, there are different lot sizes for small and big NIIs. BRLM and Registrar Elara Capital (India) is the book-running lead manager of the IPO, while Link Intime India is the registrar for the issue.
