Orient technologies ipo allotment status

Orient Technologies IPO Allotment: Key Details and How to Check Your Status

The allotment of shares for the Orient Technologies IPO is expected to be finalized today, August 22, 2024. Investors who participated in the IPO can check their allotment status via the BSE or the registrar’s website, Link Intime India. The shares, which are scheduled to list on August 28, 2024, are currently trading at a 40% premium in the grey market. This article provides a detailed guide on how to check your allotment status and offers insights into the IPO’s performance and key details.

How to Check Orient Technologies IPO Allotment Status

If you applied for the Orient Technologies IPO, you can check your allotment status through two primary methods: the BSE website or the registrar’s website (Link Intime India). Here’s a step-by-step guide for both:

1. Checking Allotment Status on BSE

Visit the BSE Website: Go to BSE IPO Allotment Status.
Select the Issue Name: Choose “Orient Technologies IPO” from the dropdown menu.
Enter Details: Provide your application number or PAN number.
Check Allotment: Click on the search button to view your allotment status.

2. Checking Allotment Status on Link Intime India

Visit the Link Intime India Website: Go to Link Intime IPO Status.
Select the IPO: Choose “Orient Technologies IPO” from the dropdown.
Enter PAN Details: Input your PAN number and click search.
View Status: Your allotment status will be displayed on the screen.

Grey Market Premium (GMP) and Listing Date

The shares of Orient Technologies are currently trading at a Grey Market Premium (GMP) of Rs 82, which represents a 40% premium over the issue price. The strong GMP indicates positive investor sentiment and a likely strong debut on the stock exchanges. The official listing of the shares is scheduled for August 28, 2024.

IPO Subscription and Performance

The Orient Technologies IPO received an overwhelming response from investors, particularly from non-institutional buyers. The strong subscription numbers reflect the confidence in the company’s growth prospects and its strategic position in the IT infrastructure and services sector.

The proceeds from the IPO will be used primarily for capital expenditure requirements, the acquisition of office premises at Navi Mumbai, and other general corporate purposes.

Company Background and Financial Performance

Orient Technologies has established itself as a key player in the IT infrastructure, IT-enabled services (IteS), and cloud and data management sectors. The company collaborates with top technology firms like Dell, Fortinet, and Nutanix to provide tailored solutions that meet the specific needs of their customers.

In terms of financial performance, Orient Technologies has shown robust growth, with its IT Infrastructure segment being the largest revenue generator. Between fiscal years 2021 and 2023, this segment grew at a compound annual growth rate (CAGR) of 58.60%. In FY24, the company’s revenue from operations increased by 12% year-on-year to Rs 603 crore, with a profit of Rs 41.4 crore.

Conclusion

The finalization of the Orient Technologies IPO allotment marks a significant milestone for investors who participated in the offering. With a strong GMP and robust financial performance, the company’s shares are poised for a successful listing. Investors can easily check their allotment status through the BSE or Link Intime India websites. As Orient Technologies continues to grow and expand its offerings, it remains a company to watch in the Indian IT sector.