Shares of Orient Technologies are debuted at ₹288.00 per share, showing a notable gain of 39.81% from the issue price. This strong start underscores the company’s favorable market reception and high investor interest.
Ahead of its listing, Orient Technologies’ shares were trading at a robust grey market premium of Rs 90-92 per share, indicating a potential listing gain of approximately 44-45 percent. This compares to the premium of Rs 80-82 observed when the issue closed for bidding last week.
The IPO, which ran from August 21-23, saw impressive interest from investors. The company offered shares in a price band of Rs 195-206 per share with a lot size of 72 shares. A total of Rs 214.76 crore was raised, including a fresh share sale of up to Rs 120 crore and an offer-for-sale of up to 46 lakh shares.
Orient Technologies’ IPO was oversubscribed by 151.71 times, with non-institutional investors’ portion being booked 300.70 times. Qualified institutional bidders subscribed to their quota 189.90 times, while retail investors’ portion was subscribed 66.87 times.
The strong demand reflects the company’s solid market position and financial growth. “The IPO’s valuation at a P/E multiple of 17.45 times seems reasonable. Given the company’s strong fundamentals and the positive outlook for the IT sector, Orient Technologies is set for a successful listing,” said Shivani Nyati, Head of Wealth at Swastika Investmart.
Prathamesh Masdekar, Research Analyst at StoxBox, advised investors to hold the shares for the medium to long term. Orient Technologies, a Mumbai-based IT solutions provider established in 1997, offers a wide range of customized services, attracting notable clients across various industries.
