Orient Technologies IPO Allotment Status and Market Predictions

The allotment of shares for Orient Technologies is set to be finalized today, August 26, 2024. The subscription window for the Orient Technologies IPO, which lasted three days, closed on August 23, 2024.

The shares were offered at a price band of Rs 195-206 each, with a minimum lot size of 72 shares, leading to an overwhelming response. The IPO was oversubscribed by an impressive 154.84 times, encompassing a fresh issue of 5,825,243 shares and an offer for sale of 4,600,000 equity shares, each with a face value of Rs 10.

The subscription details indicate that non-institutional investors (NIIs) showed the highest interest, with a subscription rate of 310.03 times for the shares reserved for them. Qualified Institutional Buyers (QIBs) followed closely, achieving a subscription rate of 188.76 times, while retail investors subscribed 68.93 times.

After the finalization of the allotment, investors can check their allotment status by visiting the official websites of the BSE, NSE, or Link Intime India, the registrar for this issue. Direct links are provided for convenience to check the status of the Orient Technologies IPO.

As for the grey market premium (GMP), Orient Technologies shares are presently trading at a premium of around Rs 82 over the upper limit of the IPO price band, signaling robust investor confidence prior to listing.

The shares of Orient Technologies are scheduled to be listed on both the BSE and NSE on August 28, 2024. Based on current trends in the grey market, it is anticipated that the shares will debut at approximately Rs 288 each, reflecting a 40% gain over the IPO issue price.

Established in 1997 and headquartered in Mumbai, Orient Technologies is recognized as a leading IT solutions provider, specializing in developing tailored products and solutions across various business sectors.