The issue comprises of fresh issue of Rs 120.00 crore and offer for sale of 0.46 crore shares. Orient Technologies IPO is a book built issue of Rs 0.00 crores.
Orient Technologies IPO opens for subscription on August 21, 2024 and closes on August 23, 2024. The allotment for the Orient Technologies IPO is expected to be finalized on Monday, August 26, 2024. Orient Technologies IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, August 28, 2024.
Orient Technologies IPO price bands are yet to be announced.
Elara Capital (India) Private Limited is the book running lead manager of the Orient Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.
About Orient Technologies Limited
Incorporated in July 1997, Orient Technologies Limited is a fast-growing information technology (IT) solutions provider headquartered in Mumbai, Maharashtra. The company has developed extensive knowledge to create products and solutions for specific areas within its business verticals.
These areas are outlined below:
IT Infrastructure: Products and solutions include Data Centre Solutions and End-User Computing;
IT Enabled Services (IteS): Services include Managed Services, Multi-Vendor Support Services, IT Facility Management Services, Network Operations Centre Services, Security Services, and Renewals; and
Cloud and Data Management Services: Services include migration of workload from data centres to cloud.
The company’s wide range of customized offerings and its ability to tailor solutions to meet customers’ specific needs have enabled it to attract prominent clients across various industries. They serve leading public and private sector entities in diverse customer industries, such as banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceutical.
Orient Technologies Limited, established in July 1997, is a fast-growing IT solutions provider based in Mumbai. It specializes in IT infrastructure, IT-enabled services (IteS), and cloud and data management services.
The clientele of the company includes Bluechip Corporate Investment Centre Private Limited (Bluechip), Tradebulls Securities Private Limited (Tradebulls), Vasai Janata Sahakari Bank Limited (VJS Bank) and Vasai Vikas Sahakari Bank Limited (VKS Bank), Integreon Managed Solutions India Private Limited (Integreon),Coal India Limited (Coal India), Mazagon Dock Shipbuilders Limited (Mazagon Dock), Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai and D’Décor Exports Private Limited (D’Décor).
The company has received the following certifications: ISO 27001:2013 for Information Security Management System, ISO 20000-1:2018 for Information Technology Services Management, ISO 9001:2015 for Quality Management System, and ISO/IEC 27001:2013 for Information Security Management System. Additionally, we have been awarded the ISO 22301:2012 certificate for our business continuity management systems and the CMMI Maturity Level 3 Certificate.
The company’s corporate office is in Mumbai, Maharashtra, and sales and services offices are located in various cities in India, such as Navi Mumbai and Pune in Maharashtra, Ahmedabad, Gujarat, New Delhi, Bengaluru, Karnataka, and Chennai, Tamil Nadu.
The company has 1,388 permanent employees as of December 31,2023.
Refer to Orient Technologies IPO DRHP for detailed information.
Orient Technologies IPO Details
| IPO Date | August 21, 2024 to August 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | [.] shares(aggregating up to ₹0.00 Cr) |
| Fresh Issue | [.] shares(aggregating up to ₹120.00 Cr) |
| Offer for Sale | 4,600,000 shares of ₹10(aggregating up to ₹0.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 35,816,500 |
Orient Technologies IPO Timeline (Tentative Schedule)
Orient Technologies IPO opens on August 21, 2024, and closes on August 23, 2024.| IPO Open Date | Wednesday, August 21, 2024 |
| IPO Close Date | Friday, August 23, 2024 |
| Basis of Allotment | Monday, August 26, 2024 |
| Initiation of Refunds | Tuesday, August 27, 2024 |
| Credit of Shares to Demat | Tuesday, August 27, 2024 |
| Listing Date | Wednesday, August 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 23, 2024 |
Orient Technologies IPO Promoter Holding
Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah and Ujwal Arvind Mhatre are the promoters of the company.| Share Holding Pre Issue | 97.96% |
| Share Holding Post Issue |
Orient Technologies Limited Financial Information (Restated)
Orient Technologies Limited's revenue increased by 15.54% and profit after tax (PAT) rose by 14.35% between the financial year ending with March 31, 2023 and March 31, 2022.| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 238.45 | 215.25 | 176.32 | 112.45 |
| Revenue | 268.17 | 542.01 | 469.12 | 248.96 |
| Profit After Tax | 16.40 | 38.30 | 33.49 | 0.13 |
| Net Worth | 145.04 | 128.82 | 94.11 | 61.29 |
| Reserves and Surplus | 110.04 | 111.32 | 76.61 | 44.79 |
| Total Borrowing | 6.58 | 12.86 | 2.28 | 9.22 |
Objects of the Issue (Orient Technologies IPO Objectives)
The Company proposes to utilise the Net Proceeds towards the following objects:
- Acquisition of office premise at Navi Mumbai situated at unit no 1201, 1202, 1203, and 1204, respectively which are situated at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property);
- Funding capital expenditure requirements for:
i.Purchase of equipment for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property; and
ii.Purchase of equipment and devices to offer Devise-as-a-Service (DaaS)offering.(collectively, Capital Expenditure). - General corporate purposes.
Orient Technologies Limited Contact Details
Orient Technologies Limited
Off No-502, 5th Floor, Akruti Star,
Central Road, MIDC, Opp. Akruti Point Central
Andheri (East), Mumbai �400093
Phone: +91 22 4292 8777
Email: complianceofficer@orientindia.net
Website: https://www.orientindia.in/
