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Orient Technologies IPO Day 1
On the first day of bidding, by 10:24 IST:
The overall public issue was 31% subscribed.
The retail portion was 53% booked.
The non-institutional investors (NII) segment was 19% subscribed.
The qualified institutional buyers (QIB) portion had not been booked yet, according to BSE data.
Read more: Read more: https://news-affairs.com/web-stories/top-stock-to-watch-today-21-august-2024/
Orient Technologies IPO Details: Valuation, OFS, and Grey Market Premium Insights
According to Prathamesh P Masdekar from StoxBox, Orient Technologies mainly works in India and makes most of its money there. While they do work with many international companies and have some presence in Singapore, they haven’t expanded much outside India. The Indian IT Services industry generally earns most of its money from exports, with North America and Europe being key markets.
Orient Technologies has shown steady growth in its revenue, earnings before interest, taxes, depreciation, and amortization (EBITDA), and profit after tax (PAT) from FY2022 to FY2024. Specifically:
Revenue grew at an average annual rate of 13.7%.
EBITDA grew at an average annual rate of 12.9%.
PAT grew at an average annual rate of 11.2%.
This growth matches the company’s expansion in its products and its increasing number of customers.
” Offering more products and services ,
Growing its presence in global markets ,
Building long-term relationships with customers,
Partnering with technology companies”.
These efforts will help them create and customise products and solutions for their customers.
The IPO is priced at a P/E ratio of 20.7 times based on expected earnings for FY24 , which is considered reasonable compared to similar companies. Therefore, ” the recommendation is to SUBSCRIBE to the IPO.
Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.
