Orient Technologies files DRHP with SEBI to raise funds via IPO
₹10 and consists of a fresh issue worth ₹120 crore and an offer for sale of up to 46 lakh equity shares by the Promoter Selling Shareholders. The offer for sale consists of the sale of equity shares of up to 11.50 lakh by Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah by each promoter.
The IPO is a book-building issue, wherein not more than 50 percent of the offer shall be available for allocation to qualified institutional buyers, not less than 15 percent to non-institutional investors, and not less than 35 percent to retail individual investors. The proceeds from the fresh issue, to the extent of ₹79.65 crore for funding its capital expenditure requirements; ₹10.35 crore for the acquisition of office premises at Navi Mumbai; and General Corporate Purposes, added the prospectus.
Elara Capital (India) Private Limited is the sole book-running lead manager for the IPO, and Link Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.
Founded in 1997, Orient Technologies is a fast-growing information technology (IT) solutions provider. The company creates products and solutions for specialized 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. As of December 31, 2023, Orient Technologies boasted a diverse clientele spanning both public and private sectors, including industries like Banking, Financial Services, Insurance (BFSI), Information Technology (IT), IteS, and Healthcare/Pharmaceuticals, among
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