Orient Technologies IPO: Share Allotment Finalised, GMP Soars High, Listing Awaited; Check Status

The IPO allotment for Orient Technologies has finally been concluded today, Monday, August 26. Orient Technologies, a Mumbai-based IT solutions provider, opened its initial public offering (IPO) on Wednesday, August 21, and closed it on Friday, August 23. The IPO witnessed an overwhelming response across all categories, reflecting strong investor confidence in the company's growth potential. The subscription numbers, coupled with the rising grey market premium, suggest a strong debut on the stock exchanges.

The Orient Technologies IPO saw a stellar subscription rate, with an overall subscription of 151.71 times the offer. This demand highlights the keen interest from various investor categories. Retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs) all showed significant interest, with subscription rates of 66.87 times, 300.60 times, and 189.90 times, respectively.

Prior to the opening of the subscription, Orient Technologies successfully raised Rs 64.43 crores from anchor investors. This pre-IPO anchor investment played a crucial role in setting the stage for the highly successful public subscription phase.

The IPO price band was set between Rs 195 and Rs 206 per share, with a face value of Rs 10 per equity share. Investors showed a preference for the upper end of the price band.

How to Check Your IPO Allotment Status
For those who have applied for shares in the Orient Technologies IPO, the allotment status can be checked on the IPO registrar's portal, Link Intime India Private Ltd. Investors can visit the website Link Intime India Private Ltd to view the allotment status.

Here's a step-by-step guide to checking your allotment status on the registrar's website:
Visit the Link Intime Portal: Go to Link Intime India Private Ltd.
Select the IPO: Choose the Orient Technologies IPO from the drop-down menu after the allocation process is finalized.
Enter Details: Choose your preferred method (Application No., Demat Account, or PAN) and enter the required details.
Application Type: Select either ASBA or non-ASBA as your application type.
Complete Captcha: Enter the captcha code to verify you are not a robot.
Submit: Click on submit to view your allotment status.

Additionally, the allotment status can also be checked on the BSE and NSE websites by following similar steps, ensuring that investors have multiple avenues to confirm their allotment.

For investors who did not receive an allotment, the refund process will be initiated on Tuesday, August 27. The company will refund the application money directly to the respective bank accounts linked with the IPO application. For those who have been allotted shares, the shares will be credited to their demat accounts on the same day.

The shares of Orient Technologies are scheduled to be listed on Wednesday, August 28. Given the strong subscription numbers and the encouraging grey market premium, the stock is expected to make a robust debut.

The grey market premium (GMP) for Orient Technologies has been on an upward trajectory, reflecting strong demand and positive sentiment in the market. As of today, the GMP stands at Rs 82, suggesting that the shares are trading at a premium of Rs 82 over the upper IPO price of Rs 206. This implies an expected listing price of around Rs 288 per share, which is approximately 39.81% higher than the issue price.

The rising GMP indicates that investors are willing to pay a substantial premium, anticipating a strong performance by Orient Technologies once it is listed on the stock exchanges. Over the past 18 sessions, the GMP has ranged from a low of Rs 0 to a high of Rs 82, highlighting the growing investor confidence as the listing date approaches.