IPO Details

Bidding Dates

21 Aug '24 - 23 Aug '24

Minimum Investment

₹14,832 / 1 Lot (72 Shares)

Price Range

₹195 - ₹206

Maximum Investment

₹192,816 / 13 Lot (936 Shares)

Retail Discount

To be announced

Issue Size

₹214.76 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Aug 21, 2024

IPO Closing Date

Aug 23, 2024

Basis of Allotment

Aug 26, 2024

Initiation of Refunds

Aug 27, 2024

Listing Date

Aug 28, 2024

Cut-off time for UPI mandate confirmation

Aug 23, 2024

Orient Technologies IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Aug 21, 2024

 0.02x 6.44x 11.21x 6.99x

Day 2Aug 22, 2024

 0.16x 21.75x 25.62x 17.51x

About Orient Technologies Limited

Orient Technologies Limited, founded in 1997, is a fast-growing IT solutions provider headquartered in Mumbai, Maharashtra. It specialises in developing tailored products and solutions across various business verticals, including IT Infrastructure, IT-enabled services (IteS), and Cloud and Data Management Services.

With deep expertise in technology, Orient Technologies collaborates with leading partners like Dell, Fortinet, and Nutanix to design and innovate products that meet specific customer requirements. This collaboration enhances the company's ability to deliver customised solutions to its diverse client base.

Focused on building long-term relationships, Orient Technologies engages closely with customers across industries such as BFSI, IT, and healthcare, understanding their needs and identifying new opportunities for collaboration.

Industry Outlook:

  1. The Indian IT Services sector represented 52.4% of the total IT revenue in FY23, indicating its critical role in the country's technology landscape.
  2. The ITeS industry grew at a 4.8% CAGR from 2019 to 2022, driven by digital transformation and financial inclusion, especially in BFSI and government services.

Orient Technologies Limited IPO Objectives

The company plans to allocate the net proceeds from the issue for the following purposes:

  1. Acquisition of office space at Plutonium Business Park, Navi Mumbai (units 1201-1204, Turbhe MIDC, Thane District).
  2. Funding capital expenditures for:
    1. Setting up a Network Operating Centre (NOC) and Security Operation Centre (SOC) at the Navi Mumbai office.
    2. Purchasing equipment and devices to support Device-as-a-Service (DaaS) offerings.
  3. General corporate purposes.

Peer Details

The following are the listed peers of Orient Technologies Limited:

  1. Dynacons Systems & Solutions Limited
  2. HCL Technologies Limited
  3. Wipro Limited
  4. LTI Mindtree Limited
  5. Allied Digital Services Limited
  6. Dev Information Technology Limited
  7. Tech Mahindra Limited
  8. Silicon Rental Solutions Limited

How to Check the Allotment Status of the Orient Technologies Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Orient Technologies Limited IPO

  • Registered office: Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Opp. Akruti Point Central, Andheri (East), Mumbai –400093
  • Phone: +91 22 4292 877
  • E-mail:complianceofficer@orientindia.net

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ million) 6,028.93 5,351.02 4,674.43
Profit After Tax (PAT) (in ₹ million) 414.48 382.98 334.93
Current Ratio (x) 2.24 2.21 1.90
Net Worth (in ₹ million) 1,753.07 1,288.24 941.05
Net Debt (in ₹ million) 48.17 128.57 22.80
Return on Equity (%) 27.26% 34.36% 43.11%
Return on Capital Employed (RoCE) (%) 28.42% 31.45% 45.25%
EPS (in ₹) 11.80 10.94 9.57

Know before investing

Strengths

6

  1. Established in 1997, a strong reputation in quality products and services.

  2. Diverse customer base across BFSI, ITeS, and healthcare sectors.

  3. Partnerships with Dell, Fortinet, and Nutanix enhance product innovation.

  4. Revenue from operations grew at a 13.57% CAGR (FY22-FY24).

  5. Robust financial performance with ₹6,028.93 million in revenue in FY24.

  6. Strong leadership with 1,482 employees across 7 Indian offices.

Risks

7

  1. Heavy reliance on top 10 customers for 38.11% revenue.

  2. Dependent on few vendors for 71.35% of total expenses.

  3. Significant outstanding receivables at 26.14% of FY24 revenue.

  4. Large workforce with 21.84% attrition rate in FY24.

  5. Negative net cash flows from investing activities in FY24.

  6. High outstanding receivables: 26.14% of FY24 revenue is due.

  7. Employee benefit expenses constitute 14.37% of total FY24 expenses.

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Orient Technologies IPO FAQs

What is Orient Technologies IPO?

Orient Technologies IPO is a fixed price IPO. The IPO will be open from August 21, 2024, to August 23, 2024.

When will Orient Technologies IPO be allotted?

The Basis of Allotment will happen on Monday, August 26, 2024.

When will Orient Technologies IPO open for subscription?

The IPO subscription window will open on August 21, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 72 shares.

When will Orient Technologies Ltd list on exchanges?

The listing date for Orient Technologies is Wednesday, August 28, 2024.

What would be the listing gains on the Orient Technologies IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Orient Technologies IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Orient Technologies IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Orient Technologies Ltd using one PAN?

You can submit only one application using your PAN card.