Orient Technologies Limited IPO: Details, Lot Size, Price Brand, Company Insights
Orient Technologies Limited IPO: The company reported that its revenue has increased by 15.54% to Rs 268.17 crore and its profit after tax (PAT) went up by 14.35% to Rs 16:40 crore during FY23.
Orient Technologies Limited IPO: Orient Technologies Limited is all set to launch its initial public offering on August 21 and will continue till August 23. The company will issue fresh shares worth Rs 120 crore and will issue an offer for sale (OFS) of 0.46 crore shares.
Orient Technologies Limited allotment is expected to be finalized on August 26 and Orient Technologies Limited is likely to be listed on both the BSE and the NSE on Wednesday, August 28.
The company has not announced the Orient Technologies Limited IPO price brand yet.
As per reports, Elara Capital Private Limited is in charge of the book running of the Orient Technologies Limited IPO while Link Intime India Private Ltd manages the registration for the issue.
The promoters of the company include Ajay Baliram Sawant, Umesh Navnitlal Shah, Jayesh Manharlal Shah, and Ujwal Arvind Mhatre.
Also Read: Unicommerce Esolutions IPO Ends With Massive reposonds from Investors
Orient Technologies Limited Financial Status
The company reported that its revenue has increased by 15.54% to Rs 268.17 crore and its profit after tax (PAT) went up by 14.35% to Rs 16:40 crore during FY23.
Also Read: Solve Plastic Products Limited IPO is all set to lauch on August 13: IPO details Inside
Objectives of the Orient Technologies Limited IPO
The company plans to use the funds raised from public subscriptions to fund its capital expenditure requirements such as the purchase of gadgets and machinery.
Furthermore, the company plans to use the fans to set up offices in Navi Mumbai at unit numbers 1201, 1202, 1203, and 1204, which are in the Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, and Navi Mumbai.
About the Orient Technologies Limited
Orient Technologies Limited is an information technology (IT) solutions provider and was established in 1997. The company provides excellent solutions for specific areas within its business fields.
Alos Read: Afcons Halts Loan Repayment to Shapoorji After SEBI Scrutiny Over IPO Funds