Orient Technologies Limited IPO Overview

Orient Technologies Limited is launching a book-built issue IPO to raise ₹214.76 crores. The issue includes a fresh issue of 0.58 crore shares, aggregating ₹120.00 crores, and an offer for sale (OFS) of 0.46 crore shares, aggregating ₹94.76 crores. The IPO will be open for subscription from August 21, 2024, to August 23, 2024, with an expected listing on the BSE and NSE on August 28, 2024.

IPO Details and Timeline

• IPO Price Band: ₹195 to ₹206 per share
• Minimum Lot Size: 72 Shares
• Retail Investment: Minimum ₹14,832 (1 lot)
• sNII Investment: Minimum ₹207,648 (14 lots)
• bNII Investment: Minimum ₹1,008,576 (68 lots)
• Lead Manager: Elara Capital (India) Private Limited
• Registrar: Link Intime India Private Ltd

Tentative Schedule:

• IPO Open Date: August 21, 2024
• IPO Close Date: August 23, 2024
• Allotment Finalization: August 26, 2024
• Refunds Initiation: August 27, 2024
• Credit of Shares: August 27, 2024
• Listing Date: August 28, 2024

Company Background

Incorporated in July 1997, Orient Technologies Limited is a fast-growing IT solutions provider headquartered in Mumbai. The company specializes in three key areas:

1. IT Infrastructure: Data Centre Solutions and End-User Computing.
2. IT Enabled Services (IteS): Managed Services, Multi-Vendor Support, IT Facility Management, Network Operations, Security Services, and Renewals.
3. Cloud and Data Management Services: Migration of workloads from data centers to cloud.

The company's customized offerings have attracted clients across industries like BFSI, IT, ITeS, and healthcare/pharmaceuticals. Prominent clients include Bluechip, Tradebulls, VJS Bank, VKS Bank, Integreon, Coal India, Mazagon Dock, GST Mahavikas, and D'Décor.

Orient Technologies has received multiple certifications, including ISO 27001:2013 for Information Security, ISO 20000-1:2018 for IT Services Management, ISO 9001:2015 for Quality Management, and CMMI Maturity Level 3. The company has offices in cities like Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai, with 1,482 permanent employees as of June 30, 2024.

Financials and Performance

Orient Technologies Limited has shown consistent growth, with revenue increasing by 12% and profit after tax (PAT) rising by 8% between the financial years ending March 31, 2024, and March 31, 2023.

Key Performance Indicators:

• Market Capitalization: ₹857.82 Cr
• ROE: 27.26%
• ROCE: 28.42%
• RoNW: 23.64%
• PAT Margin: 6.87%
• P/BV: 4.21
• Pre-IPO EPS: ₹11.57
• Post-IPO EPS: ₹9.95

IPO Objectives

The funds raised through the IPO will be used for:

1. Acquisition of Office Premises: Purchase units at Plutonium Business Park, Navi Mumbai.
2. Capital Expenditure: Setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) and purchase of equipment for Device-as-a-Service (DaaS) offerings.
3. General Corporate Purposes: Supporting the company's overall growth and operations.

Orient Technologies Limited's IPO offers an opportunity for investors to participate in the growth of a dynamic IT solutions provider with a strong track record and diverse clientele.