Orient Technologies Listed at Rs 288, Exceeds Issue Price

Orient Technologies was incorporated in the year 1997 as an Information Technology solutions provider based in Mumbai, Maharashtra. The company provides specialized services and solutions to various business verticals like banking, financial services, IT, ITeS, and the healthcare sector.

The IPO of Orient Technologies was open for subscription from 21st August 2024 to 23rd August 2024 to be listed on exchanges like NSE and BSE on 28th August 2024. The company had issued a total issue of 1,04,25,243 shares out of these 58,25,243 shares were offered as a fresh issue and 46,00,000 shares were offered as an offer for sale.

The IPO was oversubscribed by 154.84 times the issue price reflecting strong investor confidence in the company. The issue price of Orient Technologies IPO was at a price band of Rs. 195 - 206 and the company was listed in the exchange at Rs. 288 which is 40.78% increase than the issue price. This substantial listing gain not only rewarded early investors but also highlighted the market’s positive outlook on the company’s future growth.

As of 28th August 2024 IST 2:24 PM the stock has hit the upper circuit of 5%. From its opening price of Rs. 288 the stock is now trading at Rs. 302.40.

To understand more about this stock you can check out our article on Orient Technologies IPO Analysis on Rupeezy’s Blog. The article explores the company’s financial health, competitive advantages, and the reasons behind the strong market response to its IPO. This analysis is crucial for investors aiming to make informed decisions.

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