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PremiumOrient Technologies Share Price Live Updates: Orient Technologies shares made a strong stock market debut on Wednesday after its initial public offering (IPO) received robust demand from investors. Orient Technologies IPO listing date has been fixed for today, August 28. Orient Technologies shares were listed at ₹290 apiece on the BSE, a premium of 40.78% to the issue price of ₹206 per share. Orient Technologies IPO listing was in line with the Street expectations. Stay tuned to our Orient Technologies share price live blog for the latest updates:
Orient Technologies Share Price Live: Shares of IT solutions provider Orient Technologies surged by 5%, reaching an upper circuit at ₹304.45 on the BSE, following a strong debut on the exchanges on Wednesday.
Orient Technologies Share Price Live: Orient Technologies is valued at FY24 P/E multiple of 20.7x at the upper price band of the IPO. The fundamentals of the company look decent with a healthy CAGR of 13.6%/11.3%/9.8% in Revenue/EBITDA/PAT over FY22-24 period. The company’s diversified end-user industry profile, comprehensive product & service offerings and technology partnership with big players will help in sustainable growth for the company, SBI Securities said.
However, the brokerage firm believes the company faces high competition in the fragmented industry. It had recommended subscribing to the Orient Technologies IPO for a long term investment horizon.
Orient Technologies Share Price Live: Vaibhav Porwal, Co-founder, Dezerv said that the recent surge in SME stocks and strong listings gains in some of the companies are largely driven by three key factors:
1. Liquidity: High market liquidity has fueled exaggerated price movements in smaller, less liquid SME stocks as investors chase high returns and disregard the underlying risk.
2. FOMO Effect: The fear of missing out on quick gains has spurred continued investment in SME IPOs.
3. Retail Participation: Increased retail investor involvement has amplified interest in the SME segment.
While this trend might persist in the short term, risks like market corrections and regulatory interventions could temper the frenzy in the market. Investors should exercise caution and focus on fundamentals, as the SME stocks could correct sharply if sentiment shifts, Porwal said.
Orient Technologies Share Price Live: Orient Technologies IPO lot size was 72 shares and the minimum investment amount required by retail investors for one lot was ₹14,832 at the issue price of ₹206 per share. After the strong IPO listing, Orient Technologies shares were locked at 5% upper circuit at ₹304.45 apiece on the BSE. Therefore, the value of one lot of Orient Technologies shares has now jumped to ₹21,920. Thus, Orient Technologies IPO investors in the retail category have earned a total profit of ₹7,088 on one lot of shares.
Orient Technologies Share Price Live: Looking at the technicals for Orient Technologies shares, on the upward side ₹307 – 331 will act as resistance zone while ₹284 – 269 will act as support zone. Bullish trend will not break this zone. We expect the support zone of ₹284 – 269 will see further upward momentum in coming days for the target range of ₹388 – 412 zone, said Hashim Yacoobali, Director of South Gujarat Shares And Sharebrokers.
Orient Technologies Share Price Live: Orient Technologies share price were still locked at 5% upper circuit on both the stock exchanges after strong listing as there were only buyers for the stock with no sellers. As per NSE data, there are 31.15 lakh buy orders for Orient Technologies shares with no sell order. Orient Technologies shares were freezed at ₹302.40 apiece on NSE and ₹304.45 apiece on BSE.
Orient Technologies Share Price Live: Orient Technologies IPO opened for public subscription on Wednesday, August 21, and closed on Friday, August 23. The IPO allotment was finalized on August 26 and the Orient Technologies IPO listing date is today, August 28. The equity shares of IT solutions provider Orient Technologies Ltd are listed on both the stock exchanges, BSE and NSE.
Orient Technologies IPO price band was set at ₹195 to ₹206 per share. At the upper-end of the price band, the company raised ₹214.76 crore from the book-build issue which was a combination of fresh issue of 58.25 lakh equity shares worth ₹120 crore and offer for sale of 46 lakh shares worth ₹94.76 crore.
Orient Technologies IPO was subscribed 151.71 times in total. The retail investors’ portion was booked 66.87 times, while the non-institutional investor (NII) quota was subscribed 300.60 times. Qualified Institutional Buyers (QIBs) portion received 189.90 times subscription.
Elara Capital (India) Private Limited is the book running lead manager of the Orient Technologies IPO, while Link Intime India Private Ltd is the IPO registrar.
Orient Technologies Share Price Live: Orient Technologies is engaged in IT solutions and related services across business verticals. The company demonstrated consistent Revenue, EBITDA and PAT growth at a compound annual growth rate (CAGR) of 13.7%, 12.9% and 11.2% during FY2022-24 period, respectively. The company has experienced sustained growth in financial performance commensurate with the broadening of its product range and increased customer base.
Orient Technologies' financial performance is likely to be driven by expanding its product and services portfolio, increasing its global footprint, long-term relationships with customers and collaboration with technology partners, thereby heightening its ability to design and innovate products and provide solutions tailored to specific customer requirements, analysts said.
Orient Technologies Share Price Live: Orient Technologies, the seasoned IT solutions provider, made a strong debut on the stock market, listing at ₹302 per share. This translates to a significant 46.8% gain over its issue price of ₹206, underscoring the positive investor sentiment surrounding the company. The substantial oversubscription and impressive listing gain demonstrate strong investor confidence in Orient Technologies' future prospects. The company's long track record and diverse clientele solidify its market position. Consistent financial growth and a healthy balance sheet further enhance investor appeal, said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Orient Technologies' listing is a testament to its strong fundamentals and positive market outlook. However, investors should remain cautious about potential challenges such as industry competition and reliance on key clients. Investors are advised to keep holding their shares with a stop loss at ₹270, Nyati added.
Orient Technologies Share Price Live: Orient Technologies share price extended gains an was locked at 5% upper circuit after a strong listing. Orient Technologies shares jumped 5% from its listing price to ₹304.45 apiece on the BSE. The stock was quoting ₹302.40 apiece on the NSE, up by 5% from its listing price of ₹288 apiece.
Orient Technologies Share Price Live: Prathamesh Masdekar, Research Analyst, StoxBox expected Orient Technologies’ listing premium of 38% above its upper band price.
“As we advance, Orient Technologies' financial performance is likely to be driven by expanding its product and services portfolio, increasing its global footprint, long-term relationships with customers, and collaboration with technology partners, thereby heightening its ability to design and innovate products and provide solutions tailored to specific customer requirements" he said.
Thus, Masdekar advises the market participants who have been allotted Orient Technologies shares to hold them from a medium to long term perspective.
Orient Technologies Share Price Live: Orient Technologies, a seasoned IT solutions provider and its long track record, diverse clientele, and consistent financial growth underscore its strong market position. While Orient Technologies benefits from a strong market presence and a comprehensive IT solutions portfolio, it faces challenges such as reliance on key clients, technology partnerships, and government tenders. Intense competition within the IT industry could also impact the company's growth trajectory, said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Orient Technologies Share Price Live: The company plans to use the net proceeds from the fresh issue towards funding the capital expenditure requirement for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property and Purchase of equipment and devices to offer Devise-as-a-Service (DaaS) offering; Acquisition of office premise at Navi Mumbai and for general corporate purposes.
Orient Technologies Share Price Live: Orient Technologies shares were listed at ₹288.00 apiece on NSE, a premium of 39.80% to the issue price of ₹206 per share.
Orient Technologies Share Price Live: Orient Technologies shares made a strong stock market debut on stock exchanges on Wednesday. Orient Technologies share price began trading at ₹290 apiece on the BSE, a premium of 40.78% to the issue price of ₹206 per share.
Orient Technologies Share Price Live: Orient Technologies IPO allotment was finalised on August 27 and investors now look ahead to Orient Technologies IPO listing which is scheduled for today.
“Trading Members of the Exchange are hereby informed that effective from Wednesday, August 28, 2024, the equity shares of Orient Technologies Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities," a notice on BSE said.
Orient Technologies shares will be available for trading from 10:00 am from today. The stock will be a part of the Special Pre-open Session (SPOS).
Orient Technologies Share Price Live: Orient Technologies IPO listing date is today, August 28.
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