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Orient Technologies has fixed the price band for the upcoming initial public offering at ₹195-206. The IPO will open on August 21 and close on August 23.
The IPO consists of fresh issue of ₹120 crore and an offer for sale (OFS) of up to 46 lakh shares by promoter selling shareholders (worth ₹95 crore).
The proceeds from its fresh issuance to the extent of ₹10.35 crore will be used for acquisition of office premise at Navi Mumbai, ₹79.65 crore for funding its capital expenditure requirements and general corporate purposes.
The Mumbai-based company’s clientele include Coal India, Mazagon Dock, D’Décor, Jyothy Labs, ACG, Integreon, Bluechip, Tradebulls, VJS Bank, VKS Bank, and Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai, it said in a release. As of June 30, 2024, Orient Technologies’ Order Book stood at ₹101.20 crore, according to the release.
The company’s business operations involve technologically advanced solutions for which it has to collaborate with a wide range of technology partners including Dell International Services India Private Limited (Dell) and Fortinet, Inc. (Fortinet) and Nutanix Netherlands B.V. (Nutanix).
Elara Capital (India) Private Limited is the sole the book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
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