NEWS AFFAIRS 7 : WHERE EVERY STORY HAS IT'S AFFAIR!
Last updated on August 23rd, 2024 at 10:13 pm
The Orient Technologies IPO is valued at ₹214.76 crore. This includes:
A new issue of shares worth ₹120 crore.
An offer-for-sale (OFS) where the promoters are selling 46 lakh existing shares.
Read more: Orient Technologies IPO Day 1: Key Subscription Figures and Growth Insights
So, part of the money raised will come from new shares being issued, and part will come from existing shares being sold by the company’s founders.
” Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah ” are the individuals selling their shares in the offer-for-sale (OFS) part of the IPO.
The money raised from the Orient Technologies IPO will be used for general company needs, including buying an office building in Navi Mumbai and other capital expenses.
Elara Capital (India) Private Limited is managing the IPO, and Link Intime India Private Ltd is handling the registration of the issue.
Orient Technologies IPO GMP today
Orient Technologies IPO grey market price is +30. This indicates Orient Technologies share price were trading at a premium of ₹30 in the grey market, according to investorgain.com.
Based on the highest IPO price of ₹206 and the current premium in the grey market, it’s estimated that Orient Technologies’ shares might list at ₹236 each. This would be about 14.56% higher than the IPO price.
Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.
Mazagon Dock’s Q1 Margin Hits 27%, But Sustainability in Question: FY25 Forecast and Key Updates
