• Source:JND
Add as a preferred

Orient Tech IPO: Nowadays Investors are very interested in bidding for an Initial Public offering (IPO). This affection towards IPOs is for a reason as most recently listed public issues have either been listed with whooping high premiums or the listed stock skyrocketed just after its debut on stock exchanges. Meanwhile, the Public issues of Orient Technologies were fully subscribed in hours after it opened for subscription on Wednesday i.e. August 21.

Orient Tech IPO Subscription Status

According to NSE's Data, the public issue has received 2.24 times bidding against the issue size till 11:42 Am. So far, the quota reserved for retail investors subscribed 3.86 times, Non-Institutional Investor's quota got 2.65 times bidding, and Non-Institutional Investors subscribed 1.32 times against their reserved shares.

Also Read: RBI Governor Shaktikanta Das Gets 'A+' Rating Year In A Row; PM Modi Lauds The Achievement

Orient tech IPO GMP

The shares of Orient Tech are trading with Rs 32 premium in the grey market (GMP). The upper price band of Orient Tech IPO is Rs 206 per share, and the share is trading at Rs 238 in Grey Market (15% GMP).

Orient Tech IPO Details

The Rs 214.76 cr initial public offering of Orient Technologies is a combination of fresh shares and offers for sale from existing investors. The existing investors are offloading shares worth Rs 94.76 crore and promoters have issued fresh shares worth Rs 120 crore.

IPO Bidding Date - 21 August to 23 August

Orient Tech IPO Issue Size - Rs 214.76 crore

Orient Tech IPO Price Band - Rs 195-206 per share

Minimum Investment - Rs 14,040

Orient Tech IPO lot size - 72 shares

Performance of recent IPOs

Firstcry, Unicoomerce Solutions, and Ola Electric are the recently listed IPOs. The shares of Firstcry and Unicommerce Solutions were listed with 40% and 117% premiums respectively, while Ola Electric shares doubled their values in 6 trading sessions after listing.

Also Read: InterArch Building IPO Subscribed 10.83 Times on Day 2 of Bidding; NII's Leads Bidding