IPO Details
Bidding Dates
21 Aug 24 - 23 Aug 24
Price Range ₹
195 - 206
Total Equity
₹ 214.76Cr
Lot Size
72
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
66.87×
Qualified Institutional Buyers
189.90×
Employees
0.00×
Retail Investors
66.87×
Total subscription Rate
151.71×
IPO Timeline
Offer start
21 Aug 2024
Offer end
23 Aug 2024
Allotment
26 Aug 2024
Refund initiation
27 Aug 2024
Demat transfer
27 Aug 2024
Listing
28 Aug 2024
Offer start
21 Aug 2024
Offer end
23 Aug 2024
Allotment
26 Aug 2024
Refund initiation
27 Aug 2024
Demat transfer
27 Aug 2024
Listing
28 Aug 2024
About Company
Founded in July 1997, Orient Technologies Limited is a rapidly expanding IT solutions provider headquartered in Mumbai, Maharashtra. The company excels in delivering specialized products and solutions across several business verticals: 1. IT Infrastructure: This includes Data Centre Solutions and End-User Computing. 2. IT Enabled Services (IteS): The company offers Managed Services, Multi-Vendor Support Services, IT Facility Management Services, Network Operations Centre Services, Security Services, and Renewals. 3. Cloud and Data Management Services: Services include workload migration from data centres to the cloud. Orient Technologies has built a diverse portfolio of customized solutions, attracting a wide range of prominent clients in sectors such as banking, financial services, insurance (BFSI), IT, ITeS, and healthcare/pharmaceuticals. Notable clients include Bluechip Corporate Investment Centre Private Limited, Tradebulls Securities Private Limited, Vasai Janata Sahakari Bank Limited, Vasai Vikas Sahakari Bank Limited, Integreon Managed Solutions India Private Limited, Coal India Limited, Mazagon Dock Shipbuilders Limited, the Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai, and D'Décor Exports Private Limited. The company holds several key certifications: ISO 27001:2013 for Information Security Management System, ISO 20000-1:2018 for Information Technology Services Management, ISO 9001:2015 for Quality Management System, ISO/IEC 27001:2013 for Information Security Management System, ISO 22301:2012 for Business Continuity Management Systems, and CMMI Maturity Level 3. Orient Technologies operates from its corporate office in Mumbai and maintains sales and service offices in cities including Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai. As of June 30, 2024, the company employs 1,482 permanent staff members.
Year Founded
04-07-1997
Promotor Details
Ajay Baliram Sawant
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 97.96 | 73.21 |
| Share Capital | 35087500 | 30487500 |
Offer to Public
1,04,25,242.00 Cr
Project Details
- Funding our Capital Expenditure requirements - 796.5cr
- General corporate purposes - 179.28cr
- Acquisition of office premise at Navi Mumbai - 103.48cr
- Acquisition of office premise at Navi Mumbai - 103.48cr
- Funding our Capital Expenditure requirements - 796.52cr
Objectives
- Acquisition of office premise at Navi Mumbai situated at unit no 1201, 1202, 1203, and 1204, respectively which are situated at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively, Navi Mumbai Property).Funding capital expenditure requirements for: i. Purchase of equipment for setting up of Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property
- and ii. Purchase of equipment and devices to offer Devise-as-a-Service (DaaS) offering. (collectively, Capital Expenditure).General corporate purposes.
Highlights
- Orient Technologies boasts a prominent and varied customer base spanning multiple sectors, including banking, financial services, insurance (BFSI), IT, ITeS, and healthcare. This extensive industry reach underscores the company's ability to deliver customized IT solutions to a broad spectrum of clients, enhancing its market credibility and stability.
- The company offers a wide array of IT solutions, from IT infrastructure and cloud services to IT-enabled services and data management. This diverse portfolio allows Orient Technologies to cater to various technological needs, positioning it as a versatile player in the IT solutions market and enabling it to address complex client requirements effectively.
- With a strong board of directors and seasoned senior management team, Orient Technologies benefits from strategic guidance and operational expertise. The leadership's experience and industry knowledge drive the company's vision, ensuring effective decision-making and robust governance.
- The company has demonstrated a solid track record of financial performance, reflecting its ability to generate steady revenue and manage operations efficiently. This financial stability provides a strong foundation for future growth and investor confidence.
- Orient Technologies is actively expanding its product and service offerings, geographical reach, and investing in employee development. These initiatives are designed to enhance its market presence, improve service capabilities, and support long-term growth, making it well-positioned for future success in the evolving IT landscape.
Challenges
- The company's revenue is significantly reliant on its top 10 customers. If it loses any of these major clients or if their purchasing volume decreases, it could substantially harm the company’s business, revenue, and financial stability.
- A large portion of the company's revenue is derived from a few customer industries. A downturn or loss of customers within these key sectors could adversely impact the company's revenue and financial health.
- The company depends on a small number of vendors and suppliers and typically does not establish long-term contracts with them. Any disruptions in the supply chain or increases in costs from these vendors could negatively affect the company’s operations and financial performance.
- The company plans to use a portion of its net proceeds for interior development, purchasing equipment, and acquiring new office premises. Unexpected costs or delays in these projects could adversely affect the company's financial condition and growth prospects. Moreover, if the company fails to acquire the identified office premises, it could impact its financial stability and strategic growth.
- The company has experienced negative cash flow from operating, investing, and financing activities in the past. Ongoing negative cash flow could hinder its growth prospects and operational stability. Additionally, a large workforce and significant employee benefit expenses add to fixed operating costs, and any increases in these costs or failures in IT systems could further impact profitability and operational efficiency.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 1,294.20 | 165.00 | 1.32 | 1.32 | 0.0377 |
| 2023 | 2,399.40 | 175.00 | 382.98 | 382.98 | 10.9423 |
| 2022 | 1,924.92 | 175.00 | 334.93 | 334.93 | 9.5694 |
