IPO

Orient Technologies Limited IPO

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IT Enabled Services

Listed On: Aug 28, 2024 at ₹ 288.0(NSE)

₹ 14832 /72 Shares

Check Allotment

21 Aug, 2024

Open Date

23 Aug, 2024

Close Date

26 Aug, 2024

Allotment Date

28 Aug, 2024

Listing Date
Price Summary

Last Closing

468.30 (127.33%)

52 Week High

674.85

52 Week Low

275.85

Last Update

24-Oct-2025 3:30 PM
Orient Technologies IPO Issue Details
  • Issue Price ₹195-206 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,04,25,243 shares(aggregating up to ₹214.76 crore)
  • Fresh Share 58,25,243 shares(aggregating up to ₹120 crore)
  • Offer For Sale 46,00,000 shares(aggregating up to ₹94.76 crore)
  • Listing at BSE, NSE
  • List Price 288.0(NSE)
  • Listing Date 2024-08-28
  • Lead Manager Elara Capital (India) Private Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 72 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)172₹14,832
Retail(max)13936₹1,92,816
Orient Technologies IPO Reservation

Orient Technologies IPO offers total 10,425,192 shares. Out of which 2,085,049 (20%) allocated to QIB, 1,563,786 (15%) allocated to NII,3,648,835 (35%) allocated to RII, NA (NA%) allocated to employees and 3,127,522 (30%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered3,127,522 (30%)
QIB Shares Offered2,085,049 (20%)
NII (HNI) Shares Offered1,563,786 (15%)
bNII < ₹10L1,042,525 (10%)
sNII < ₹10L521,262 (5%)
Retail Shares Offered3,648,835 (35%)
Total Shares Offered10,425,192 (100%)
Orient Technologies IPO Documents
DRHP
RHP
ANCHOR
Orient Technologies IPO Details


Orient Technologies IPO is a book-built issue of ₹214.76 crores, The total issue size is ₹214.76 crores. The IPO of Orient Technologies is priced at ₹195-206 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Aug 21, 2024 and ends on Aug 23, 2024. The allotment for Orient Technologies IPO will be finalized on Aug 26, 2024. Orient Technologies IPO will be listed on BSE, NSE, with a tentative listing date fixed as Aug 28, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 72 shares, extendable to 14,832. The book-running lead manager for the IPO is/are Elara Capital (India) Private Limited.

The total issue ₹214.76 crore, comprising a fresh issue of 58,25,243 shares ₹120 crore and having Offer for Sale (OFS) of 46,00,000 shares to mop up ₹94.76 crore.

The Orient Technologies IPO sets its price band at 195-206 for each share. A single application for Orient Technologies Limited IPO must contain at least 72 shares. Sentiment investors need to invest a minimum of 72 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,832

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Orient Technologies IPO Subscription Analysis And Details
Retail
66.80x
QIB
189.90x
NII
300.55x
bNII
332.96x
sNII
235.74x
Total
151.66x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved2,085,0491,563,786
1,042,525    521,262		3,648,8357,297,670
Day 1 21-08-24 05:00 PM
0.02 x6.17
4.32 x   9.87 x		10.50 x6.65 x
Day 2 22-08-24 05:00 PM
0.16 x20.72
15.57 x   31.74 x		24.45 x16.93 x
Day 3 23-08-24 05:00 PM
189.90 x300.55
332.96 x   235.74 x		66.80 x151.66 x
Total No of Applications
29,16,834
Subscription on the basis of Applications
Retail:53.96x BHNI:66.53x SHNI:231.04x
Orient Technologies Valuations
EPS Pre IPO 11.57
EPS Post IPO 9.95
P/E Pre IPO 17.8
P/E Post IPO 20.7
ROE 27.26
ROCE 28.42
RoNW 23.64
PAT Margin 6.87
Price to Book Value 4.21
Orient Technologies Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets311.14215.25176.32
Revenue606.86542.01469.12
Profit After Tax41.4538.3033.49
Net Worth175.31128.8294.11
Reserves & Surplus138.79111.3276.61
Total Borrowing4.8212.862.28
About Orient Technologies Company

Orient Technologies Limited was incorporated in July 1997. It is one of the top IT solutions providers based in Mumbai, Maharashtra. It has expertise in IT Infrastructure, IT-enabled Services (IteS), and Cloud & Data Management Services. Some of the tailor-made solutions include Data Centre Solutions, Managed Services, IT Facility Management, and cloud migration.

Orient Technologies has diversified clientele with diverse industries in the BFSI, IT, ITeS, and healthcare sector. Among other prominent names in its clients list are Bluechip, Tradebulls, Coal India, Mazagon Dock, and D'Décor. Offices are situated all over India-in Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai.

Orient Technologies has all the prestigious certifications, such as ISO 27001:2013, ISO 20000-1:2018, and CMMI Maturity Level 3, that point to its focus on quality, security, and business continuity. As of June 30, 2024, the company remains supported by 1,482 permanent employees in delivering innovative IT solutions to meet client needs.

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Orient Technologies - Promoter(s)

Ajay Baliram Sawant

Jayesh Manharlal Shah

Umesh Navnitlal Shah

Ujwal Arvind Mhatre

Pre Issue Share Holding : 97.96%

Post Issue Share Holding : 73.21%

Orient Technologies IPO - Issue Objectives
1

Acquisition of office premise at Navi Mumbai situated at unit no 1201, 1202, 1203, and 1204, respectively which are situated at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property);

2

Funding capital expenditure requirements for: Purchase of equipment for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property; and Purchase of equipment and devices to offer Devise-as-a-Service (DaaS) offering. (collectively, Capital Expenditure).

3

General corporate purposes.

Orient Technologies IPO - Anchor Investors

Orient Technologies mobilises Rs 64.4 crore via anchor book.

Pine Oak Global Fund, and Saint Capital Fund are the biggest institutional investors in the anchor book, buying 9.7 lakh equity shares each, while SB Opportunities Fund picked 4.85 lakh shares.

Furthermore, Elara Capital (Mauritius), and Rajasthan Global Services acquired 2.91 lakh shares and 4.09 lakh shares, respectively, in the anchor book.

Orient Technologies IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Orient Technologies Limited11.811.848.95N/A23.64N/AStandalone
Dynacons Systems & Solutions Ltd.42.4142.37124.0229.4734.13N/AConsolidated
Hcl Technologies Ltd.57.9957.86251.5826.9323.01N/AConsolidated
Wipro Ltd.20.8920.82143.7723.3914.79N/AConsolidated
LTIMindtree Limited154.85154.48676.1934.5622.89N/AConsolidated
Allied Digital Services Ltd.8.298.07111.9326.057.41N/AConsolidated
Dev Information Technology Limited4.194.1825.9229.0116.26N/AConsolidated
Tech Mahindra Ltd.26.6626.58277.9355.178.83N/AConsolidated
Silicon Rental Solutions Ltd.12.56N/A61.1414.4120.54N/AStandalone

Notes:

  1. NAV is computed as the closing net worth (sum of equity share capital, other equity and non-controlling interest) divided by the closing outstanding number of equity shares as on March 31, 2024.
  2. P/E Ratio has been computed based on the closing market price of equity shares on August 8, 2024, on www.bseindia.com, divided by the Diluted EPS as on March 31, 2024. However, as per audited standalone financial results of Silicon Rentals Solutions Limited for the financial year ended March 31, 2024, Diluted EPS is not available. Hence, Basic EPS has been considered for above P/E computation for Silicon Rentals Solutions Limited.
  3. RoNW is computed as net profit after tax (including profit attributable to non-controlling interests) divided by closing net worth. Net worth has been computed as the aggregate of share capital, reserves and surplus and non-controlling interests. In case the net worth is negative for a particular year, the same has not been considered.
Strength
Since 1997, Orient Technologies Limited has built a solid reputation. They offer tailored solutions for their clients. Their clientele comes from diverse sectors: BFSI, IT, ITeS, healthcare, and pharmaceuticals. Notable clients include Coal India, Mazagon Dock, and Jyothy Labs. The company's strength lies in customising its offerings. Their top 10 clients contribute significantly to their revenue. This showcases their reliability and value.
With offerings including Data Centre Solutions, Managed Services, and Cloud Migration, Orient Technologies Limited caters to the evolving needs of modern businesses. The company's emphasis on innovation and strategic growth within each area have resulted in remarkable revenue growth in its IT Infrastructure, ITeS, and Cloud businesses.
Orient Technologies Limited has consistently demonstrated strong financial performance, characterised by steady revenue growth and profitability. With a revenue CAGR of 47.09% between Fiscal 2021 and Fiscal 2023, the company has effectively capitalised on its expanding product range and customer base. Plus, the business is positioned for long-term success in the rapidly changing IT sector thanks to its strategic investments and careful financial management.
Weakness
The majority of Orient Technologies Limited's foreign exchange exposure is unhedged, making it vulnerable to changes in exchange rates. The company's direct and indirect transactions denominated in foreign currencies, especially the US Dollar (USD), are the main source of foreign currency risk. Future business transactions as well as recognized assets and liabilities that are not valued in the company's functional currency (INR) provide this risk, which calls for close monitoring and management of currency exposures.
Orient Technologies Limited manages credit risk from both operating activities (such as trade receivables) and financing activities (including deposits with banks). While the company establishes credit limits based on internal rating criteria and regularly monitors outstanding receivables, there remains a risk of default by counterparties leading to financial losses.
Orient Technologies Limited faces liquidity risk, which refers to the possibility of being unable to settle or meet its obligations on time. While the company's treasury department manages liquidity, funding, and settlement, overseen by senior management, there is inherent risk in maintaining sufficient liquidity. Fluctuations in cash flow, unexpected financial obligations, or difficulty in accessing credit facilities could potentially impact the company's ability to meet its financial commitments in a timely manner.
Contact Details

Orient Technologies

Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Opp. Akruti Point Central, Andheri (East), Mumbai – 400093

+91 22 4292 8777

complianceofficer@orientindia.net

https://www.orientindia.in/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

complianceofficer@orientindia.net

https://linkintime.co.in/initial_offer/public-issues.html