Orient Technologies IPO Subscription / GMP : Investors have given a lot of value to the IPO of information technology (IT) solution provider Orient Technologies Limited. This IPO has been subscribed 154.25 times by 4:25 pm on its last day, 23 August 2024. At the same time, the gray market premium has also increased (40%). In such a situation, there are signs of strong listing of this stock on stock exchanges BSE and NSE on August 28. If you have invested money in this IPO, then keep an eye on the share allotment on August 26.
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Orient Technologies: Investors gave bumper response
Orient Technologies’ IPO has received a strong response from investors. This IPO has been subscribed about 154 times so far. About 50 percent of this IPO is reserved for qualified institutional investors (QIB) and it has been subscribed 188.79 times on the last day. At the same time, 15 percent is reserved for non-institutional investors (NII) and it has been subscribed 309.23 times so far. The remaining 35 percent is reserved for retail investors and it has been subscribed 66.50 times so far.
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What is the company’s outlook?
Shivani Nyati, Head of Wealth, Swastika Investmart says that Orient Technologies is a leading IT solutions provider with over three decades of experience and a large base of niche clients across industries. The company’s comprehensive IT solutions portfolio and consistent financial growth demonstrate its strong market position. However, dependence on key clients, technology partnerships and government tenders, along with intense competition, present potential challenges.
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Strength of Orient Technologies
Large customer base across diverse customer industries
Comprehensive and diversified IT solutions and offerings
Strong promoters and a Board of Directors supported by an experienced senior management
Track record of strong financial performance
Expanding our product and services portfolio
Expanding your geographic footprint
Investing in employee growth
Key Concerns of Orient Technologies
Being too dependent on your top 10 customers.
Delays or defaults in customer payments and receivables could harm its business.
The business is largely dependent on contracts entered into by various government bodies, which are on tender basis.
Too much competition in the industry
The company has a large workforce and its employee benefit expenses are also high.
Components of its fixed operating cost.
Its operations are largely dependent on its technology partnerships and the loss of any such partner could impact the company.
(Source: Swastika Investmart Report)
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Plan to expand geographic footprint
Master Capital Service says that Orient Technologies Limited specializes in developing IT products and solutions. The company offers a wide range and diversified set of products and services ranging from data center solutions to cloud and data management services. The company has recently ventured into ‘Device as a Service (DaaS)’. Under DaaS, the company will provide desktops, laptops, tablets, printers, scanners, smartphones and servers as well as managed services on a ‘pay-per-use’ model i.e. subscription basis. The company plans to expand its geographic footprint and cater to a wider customer base globally.
(Disclaimer: The views or advice on the stock are given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
