Orient Technologies IPO: What GMP signals as upcoming IPO opens this week?

Orient Technologies IPO: Orient Technologies Limited's initial public offering (IPO) will hit the Indian primary market on 21st August 2024. The Orient Technologies IPO will remain open for bidding until 23 August 2024. This means the mainboard IPO will open on Wednesday and will remain open until Friday this week. The company has fixed the IPO price band at ₹195 to ₹206 per equity share. The company aims to raise 214.76 crore from its initial offer.

Meanwhile, company shares are available for trade in the grey market. According to stock market observers, shares of Orient Technologies Limited are available at a premium of ₹56 in the grey market today.

Orient Technologies IPO GMP today

Market observers said that Orient Technologies IPO GMP (grey market premium) today is ₹56, around 26 per cent higher than the upper price band of Orient Technologies IPO. The grey market signals investors may expect around 27 percent return on their investments if they get shares through the allotment process. They said the market mood is also conducive and supportive for the primary market. Once the Orient Technologies IPO opens on Wednesday, there can be some more upside in the grey market sentiments regarding the Orient Technologies IPO.

However, stock market experts said that GMP is not an ideal indicator of the strength of an initial offer as it is entirely non-regulated. They told the grey market has nothing to do with a company's financials. They advised investors to scan the company's balance sheet and only make any decision regarding Orient Technologies IPO.

Orient Technologies IPO details

Bidding for the Orient Technologies IPO will end on 23rd August 2024; hence, the Orient Technologies IPO allotment date is most likely on 26th August 2024, i.e., on Monday next month. The public issue is proposed for listing on BSE and NSE, and the mainboard IPO may be listed on 28th August 2024.