Orient Technologies IPO Subscribed 17.32x on Day 2

On the second day of bidding, subscriptions for Orient Technologies IPO increased. Orient Technologies IPO price band is set at ₹195 to ₹206 per share. Orient Technologies IPO offers 1,04,25,192 shares. 20,85,049 (20.00%) to QIB, 15,63,786 (15.00%) to NII, 36,48,835 (35.00%) to RII and 31,27,522 (30.00%) to Anchor investors. 50,678 RIIs will receive a minimum of 72 shares, and 517 (sNII) and 1,034 (bNII) will receive a minimum of 1,008 shares.

Day Wise Subscription

On the first day, Orient Technologies IPO subscribed 6.78 times. The public issue subscribed 10.83 times in the retail category, 0.02 times in QIB, and 6.37 times in the NII category.

On the second day of bidding, Orient Technologies IPO subscribed 17.32 times. The public issue subscribed 25.28 times in the retail category, 0.16 times in QIB, and 21.64 times in the NII category.

Grey Market Premium

Orient Technologies IPO’s last GMP is ₹50. With a price band of ₹206.00, Orient Technologies IPO’s estimated listing price is ₹256 (cap price + today’s GMP). The expected percentage gain/loss per share is 33.98%.

About Orient Technologies Limited

Incorporated in July 1997, Orient Technologies Limited is a fast-growing information technology (IT) solutions company. Orient Technologies has developed extensive knowledge to create products and solutions for specific areas within its business verticals. OTL’s business operations involve technologically advanced solutions, for which the company collaborates with a wide range of technology partners, including Dell International Services India Private Limited (Dell), Fortinet, Inc. (Fortinet), and Nutanix Netherlands B.V. (Nutanix).

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.