IT solutions provider Orient Technologies announces price band for its IPO. Check details
Orient Technologies has announced a price band of Rs 195-206 for its IPO, which will open for subscription on August 21 and close on August 23.
The company plans to raise Rs 215 crore through the IPO, which includes a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of 46 lakh shares.
Under the OFS, promoters Ajay Baliram Sawant, Umesh Navnital Shah, Ujwal Arvind Mhatre and Jayes Manharlal will be offloading their part stakes.
In the IPO, about 50% in the public offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
The proceeds from the fresh issue will be used to fund capital expenditure requirements, acquisition of office premises at Navi Mumbai and for general corporate purposes.
Over the years, Orient Tech has developed deep expertise in creating products and solutions for specialised disciplines across IT infrastructure, IT enabled services (IteS) and cloud and data management services.
It collaborates with top technology companies like Dell, Fortinet, and Nutanix to offer advanced solutions tailored to meet the specific needs of their customers.
The product and services offered by Orient Technologies, within IT Infrastructure, comprises Data Centre Solutions and End-User Computing.
The IT Infrastructure segment has a track record of being the longest operational business segment and also the largest revenue generating segment. It has added new products making it a broad-based offering, and growing at a CAGR of
