Mumbai10 minutes ago
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The Initial Public Offering (IPO) of IT solution providing company Orient Technologies will open today. Investors will be able to bid for its shares till August 23. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 28.
Orient Technologies wants to raise Rs 214.76 crore through this issue. For this, the company is issuing 5,825,243 fresh shares worth Rs 120 crore. At the same time, the existing investors of the company are selling 4,600,000 shares worth Rs 94.76 crore through Offer for Sale i.e. OFS. On August 28, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested?
Orient Technologies has fixed the price band of this issue from Rs 195 to Rs 206. Retail investors can bid for a minimum of one lot i.e. 72 shares. If you apply for 1 lot as per the upper price band of the IPO of Rs 206, then you will have to invest ₹ 14,832 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 936 shares. For this, investors will have to invest Rs 1,92,816 as per the upper price band.
35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
Orient Technologies’ premium in grey market is 14.56%
Before the opening, the company’s stock has reached a premium of 14.56% i.e. ₹ 30 per share in the gray market. In such a situation, according to the upper price band of ₹ 206, its listing can be at ₹ 236. However, this can only be estimated, the price of the listing of the stock is different from the price of the gray market.
Orient Technologies was established in 1997
Orient Technologies Limited was founded in 1997. The company provides information technology (IT) solutions. The company works to create product solutions for specific areas within its business vertical. Orient is headquartered in Mumbai.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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