Orient Technologies continued to hold a strong grey market premium (GMP), following the strong bidding as the focus shifted to share allotment. The GMP for the issue has more than doubled since the bidding for the issue kicked off, thanks to robust bidding and strong debuts for the recently concluded IPOs.
Last head, Orient Technologies' shares were commanding a grey market premium (GMP) of Rs 80-82 per share, suggesting a listing pop of around 40 per cent for the investors. However, the GMP for the issue stood at Rs 70 on the first and second day of the bidding, while it was nearly Rs 30 before the bidding kicked off.
Orient Technologies IPO Allotment Status Orient Technologies is scheduled to finalize the basis of allotment of its shares on Monday, August 26. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, August 27. The company will make its Dalal Steet debut on Wednesday, August 28.
Investors, who had bid for the issue of Orient Technologies, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Orient Technologies Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Orient Technologies: IPO and bidding details The IPO of Orient Technologies was open for bidding between August 21-23. The company had offered its shares in the price band of Rs 195-206 per share with a lot size of 72 shares. It raised a total of Rs 214.76 crore from its IPO, which included a fresh share sale of up to Rs 120 crore and an offer-for-sale (OFS) of up to 46 lakh shares.
The issue was overall subscribed a total of 151.71 times. The portion from non-institutional investors (NIIs) was booked a stellar 300.70 times, while the quota for qualified institutional bidders (QIBs) was subscribed a solid 189.90 times. The portion reserved for retail investors saw bidding for 66.87 times during the three-day bidding process.
About Orient Technologies Incorporated in 1997, Mumbai-based Orient Technologies is a fast-growing information technology (IT) solutions provider. Orient Technologies offers a wide range of customized offerings and its ability to tailor solutions to meet customers' specific needs has enabled it to attract prominent clients across various industries. Brokerages were mostly positive on the issue, suggesting investors to subscribe to it for a long-term. Elara Capital (India) enacted as the sole book running lead manager of the Orient Technologies IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE.