Foreign and Domestic Institutions who participated in the anchor were Pine Oak Global, Saint Capital Fund, SB Opportunity Fund I, Elara Capital (Mauritius) Fund and Rajasthan Global Securities
FinTech BizNews Service
Mumbai, August 20, 2024: Mumbai based IT solutions provider Orient Technologies Limited, has garnered Rs. 64.43 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, August 21, 2024. The company informed the bourses that it allocated 31,27,572 equity shares at Rs. 206 per share on Tuesday, August 20, 2024, to anchor investors.
Foreign and Domestic Institutions who participated in the anchor were Pine Oak Global, Saint Capital Fund, SB Opportunity Fund I, Elara Capital (Mauritius) Fund and Rajasthan Global Securities.
Elara Capital (India) Private Limited is the sole the book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
IPO Details
The IPO consists of fresh issue of up to Rs 120 crore and an offer for sale (OFS) of up to 4,600,000 equity shares by Promoter Selling Shareholders.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, August 21, 2024, and closes on Friday, August 23, 2024. The price band for the Offer has been determined at Rs 195 – Rs 206 per equity share.
The IPO will fetch Rs 214.76 crore at the upper end of the price band.
Investors can bid for a minimum of 72 equity shares and in multiples of 72 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
