Orient Technologies Limited is set to launch its Initial Public Offering (IPO) on August 21, 2024. This book-built issue aims to raise ₹120 crores through a fresh issue, with an additional offer for sale of 0.46 crore shares. The IPO will close on August 23, 2024, with the basis of allotment expected to be finalized by August 26, 2024. The shares are anticipated to be listed on the BSE and NSE on August 28, 2024.
Key Dates:
- IPO Open Date: Wednesday, August 21, 2024
- IPO Close Date: Friday, August 23, 2024
- Basis of Allotment: Monday, August 26, 2024
- Initiation of Refunds: Tuesday, August 27, 2024
- Credit of Shares to Demat: Tuesday, August 27, 2024
- Listing Date: Wednesday, August 28, 2024
- Cut-off Time for UPI Mandate Confirmation: 5 PM on August 23, 2024
Company Overview:
Incorporated in July 1997, Orient Technologies Limited is a leading IT solutions provider headquartered in Mumbai, Maharashtra. The company specializes in IT infrastructure, IT-enabled services (IteS), and cloud and data management services. With a strong focus on innovation, Orient Technologies has developed products and solutions tailored to meet the specific needs of clients across various industries, including banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceutical sectors.
Promoters:
The company is promoted by Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah, and Ujwal Arvind Mhatre, who hold a combined pre-issue shareholding of 97.96%.
Financial Performance:
Orient Technologies has demonstrated robust financial growth, with revenue increasing by 15.54% and profit after tax (PAT) rising by 14.35% between FY 2022 and FY 2023. Key financial figures include:
| Period Ended | Assets (₹ Crore) | Revenue (₹ Crore) | Profit After Tax (₹ Crore) | Net Worth (₹ Crore) | Reserves and Surplus (₹ Crore) | Total Borrowing (₹ Crore) |
|---|---|---|---|---|---|---|
| 30 Sep 2023 | 238.45 | 268.17 | 16.40 | 145.04 | 110.04 | 6.58 |
| 31 Mar 2023 | 215.25 | 542.01 | 38.30 | 128.82 | 111.32 | 12.86 |
| 31 Mar 2022 | 176.32 | 469.12 | 33.49 | 94.11 | 76.61 | 2.28 |
| 31 Mar 2021 | 112.45 | 248.96 | 0.13 | 61.29 | 44.79 | 9.22 |
IPO Objectives:
The net proceeds from the IPO will be utilized for the following purposes:
- Acquisition of office premises in Navi Mumbai.
- Funding capital expenditure for setting up a Network Operating Centre (NOC) and Security Operation Centre (SOC) in Navi Mumbai, as well as purchasing equipment for Device-as-a-Service (DaaS) offerings.
- General corporate purposes.
Certifications and Clientele:
Orient Technologies holds several prestigious certifications, including ISO 27001:2013, ISO 20000-1:2018, ISO 9001:2015, ISO/IEC 27001:2013, and ISO 22301:2012. The company’s prominent clients include Bluechip Corporate Investment Centre, Tradebulls Securities, Vasai Janata Sahakari Bank, Coal India, and Mazagon Dock Shipbuilders.
Company Contact Details:
- Address: Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Andheri (East), Mumbai 400093
- Phone: +91 22 4292 8777
- Email: [email protected]
- Website: Orient Technologies Limited
IPO Registrar:
- Link Intime India Private Ltd
- Phone: +91-22-4918 6270
- Website: Link Intime
orient technologies ipo gmp To be update
Stay tuned for further updates on the Orient Technologies IPO, including the final price bands and expert recommendations.