Orient Technologies IPO Price: ₹195 to ₹206 per share
IPO Dates: 21 August 2024 – 23 August 2024
Company Overview
Incorporated on July 4, 1997, Orient Technologies Limited is a fast-growing information technology (IT) solutions provider headquartered in Mumbai, Maharashtra. The company has developed extensive expertise to create specialized products and solutions across its business verticals. Orient Technologies Limited offers a broad portfolio of IT solutions and services, with its operations extending to various cities across India. Orient Technologies Limited’s additional sales and service offices are located in Navi Mumbai, Pune, Ahmedabad, New Delhi, Bengaluru, and Chennai.
Business Verticals
1. IT Infrastructure: Orient Technologies Limited provides a range of IT infrastructure products and solutions, including:
- Data Centre Solutions: Servers, storage, active and passive networking components (switches, routers, access points), collaboration solutions (CCTV and transmission of feeds, virtual conferences), and security solutions.
- End-User Computing: Desktop management, end-user support, and mobile device management.
2. IT Enabled Services (IteS): The company’s IT-enabled services include:
- Managed Services
- Multi-Vendor Support Services
- IT Facility Management Services
- Network Operations Centre Services
- Security Services
- Renewals
3. Cloud and Data Management Services: Orient Technologies Limited specializes in migrating workloads from data centres to the cloud, ensuring efficient data management and scalable cloud solutions.
New Offerings and Technology Collaboration
Device as a Service (DaaS): Orient Technologies Limited has recently introduced the Device as a Service (DaaS) model. This offering provides desktops, laptops, tablets, printers, scanners, smartphones, and servers bundled with software and managed services on a subscription or pay-per-use basis.
Partnerships and Technology Collaboration: Orient Technologies Limited collaborates with a range of technology partners to enhance its product and service offerings. Key partners include:
- Dell International Services India Pvt Ltd (Dell)
- Fortinet, Inc. (Fortinet)
- Nutanix Netherlands B.V. (Nutanix)
These collaborations enable Orient Technologies Limited to design and deliver innovative, customized solutions tailored to specific client requirements.
Clientele
Orient Technologies Limited’s ability to deliver customized solutions has garnered it a distinguished clientele across various sectors. The company serves leading public and private sector entities in industries such as banking, financial services, insurance (BFSI), IT, ITeS, and healthcare. Notable clients include Bluechip Corporate Investment Centre, Tradebulls Securities, Vasai Janata Sahakari Bank, Vasai Vikas Sahakari Bank, Integreon Managed Solutions, Coal India, Mazagon Dock Shipbuilders, GST Mahavikas (Joint Commissioner of Sales Tax), and D’Décor Exports.
Certifications and Awards
Orient Technologies Limited has achieved several certifications that underscore its commitment to quality and security. The company holds ISO 27001:2013 and ISO/IEC 27001:2013 certifications for Information Security Management Systems, ISO 20000-1:2018 for Information Technology Services Management, and ISO 9001:2015 for Quality Management Systems. Additionally, Orient Technologies Limited has been awarded the ISO 22301:2012 certificate for Business Continuity Management Systems and the CMMI Maturity Level 3 Certificate, reflecting its robust process management and operational excellence.
Competitive Strengths
Orient Technologies Limited’s competitive strengths include:
- Marquee Customer Base: The company boasts a prestigious and diversified clientele across key industries such as BFSI, IT, ITeS, and healthcare.
- Diversified IT Solutions: OTL offers a wide range of products and services tailored to meet specific customer needs.
- Proven Financial Performance: The company has demonstrated a solid track record of financial stability and growth.
Bidding Starts In
Orient Technologies IPO Specifics:
| IPO Date | August 21, 2024 to August 23, 202 |
| Listing Date | Wednesday, August 28, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹206 per share |
| Lot Size | 72 Shares |
| Total Issue Size | 10,425,243 shares (aggregating up to ₹214.76 Cr) |
| Fresh Issue | 5,825,243 shares (aggregating up to ₹120.00 Cr) |
| Offer For Sale | 4,600,000 shares (aggregating up to ₹94.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 35,816,500 |
| Share holding post issue | 41,641,743 |
Orient Technologies IPO Timetable (Important Dates)
| IPO Open Date | Wednesday, August 21, 2024 |
| IPO Close Date | Friday, August 23, 2024 |
| Basis of Allotment | Monday, August 26, 2024 |
| Initiation of Refunds | Tuesday, August 27, 2024 |
| Credit of Shares to Demat | Tuesday, August 27, 2024 |
| Listing Date | Wednesday, August 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 23, 2024 |
Orient Technologies IPO Lot Size
Bidders have the opportunity to bid for a minimum of 72 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 72 | ₹14,832 |
| Retail (Max) | 13 | 936 | ₹1,92,816 |
| S-HNI (Min) | 14 | 1,008 | ₹2,07,648 |
| S-HNI (Max) | 67 | 4,824 | ₹9,93,744 |
| B-HNI (Min) | 68 | 4,896 | ₹10,08,576 |
Orient Technologies IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Orient Technologies Limited IPO Financial Information
Orient Technologies Limited experienced a substantial 12% growth in revenue and a commendable 8% increase in profit after tax (PAT) from the fiscal year ending on March 31, 2023 to March 31, 2024.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 112.45 | 176.32 | 215.25 | 311.14 |
| Revenue | 248.96 | 469.12 | 542.01 | 606.86 |
| Profit After Tax | 0.13 | 33.49 | 38.3 | 41.45 |
| Net Worth | 61.29 | 94.11 | 128.82 | 175.31 |
| Reserves & Surplus | 44.79 | 76.61 | 111.32 | 138.79 |
| Total Borrowing | 9.22 | 2.28 | 12.86 | 4.82 |
Key Performance Indicator – Orient Technologies IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 857.82Cr |
| ROE | 27.26% |
| ROCE | 28.42% |
| EPS | ₹11.57 |
| P/E (x) | 17.8 |
| RoNW | 23.64% |
| P/BV | 4.21 |
Objects of the Issue:
The Company plans to use the Net Proceeds for the following purposes:
- Acquisition of office space in Navi Mumbai, specifically units 1201, 1202, 1203, and 1204 at Plutonium Business Park, located in the Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively referred to as the Navi Mumbai Property).
- Funding capital expenditures for:
- Purchasing equipment to establish a Network Operating Centre (NOC) and a Security Operation Centre (SOC) at the Navi Mumbai Property.
- Acquiring equipment and devices for offering Device-as-a-Service (DaaS) solutions (collectively known as Capital Expenditure).
- General corporate purposes.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
