Orient Technologies IPO: Strong Subscription Response on Day 2 | BulletsIn

On the second day of its initial public offering (IPO), Orient Technologies witnessed overwhelming investor interest, with the issue being subscribed over 10 times. The strong demand, particularly from retail investors, highlights the market’s positive reception to the company’s public offering. Anchor investors also played a significant role in boosting confidence ahead of the IPO’s launch.

BulletsIn

• Orient Technologies’ IPO was subscribed 10.13 times by the end of the second day of subscriptions.
• A total of 8.22 crore shares were bid for, against the 74.49 lakh shares on offer.
• The retail investors’ portion was subscribed 17.5 times, showing significant interest from individual investors.
• Non-institutional investors (NIIs) subscribed to their portion 10 times.
• The quota for qualified institutional buyers (QIBs) saw a subscription of just 5%.
• The company raised Rs 64.4 crore from anchor investors prior to the IPO.
• Key anchor investors include Saint Capital Fund, Rajasthan Global Services, SB Opportunities Fund, and Elara Capital (Mauritius).
• The IPO comprises a fresh issue of Rs 120 crore and an offer-for-sale (OFS) worth Rs 95 crore, totaling Rs 214.76 crore.
• The public issue is priced between Rs 195 and Rs 206 per share, with the offer closing on August 23.
• Proceeds will be used for general corporate purposes, purchasing office space in Navi Mumbai, and funding capital expenditure.