Mumbai: Orient Technologies Limited, a Mumbai-based IT solutions provider, has come out with its IPO having price band of Rs 195 to Rs 206, which will open on August 21 and close on August 23.
The IPO consists of fresh issue of upto Rs 120 crore and an offer for sale (OFS) of upto 4,6000,000 equity shares by Promoter Selling Shareholders.
The proceeds from the fresh issuance to the extent of Rs 10.35 crore will be used for acquisition of office premise at Navi Mumbai, and Rs 79.65 crore for funding its Capital Expenditure requirements and general corporate purposes.
Orient Technologies was incorporated in 1997 and has built deep expertise to develop products and solutions for specialised disciplines across its business verticals such as IT Infrastructure Products and solutions, IT enabled services (IteS), Cloud and Data Management services.
The Company’s business operations involve technologically solutions for which it has to collaborate with a wide range of technology partners including Dell International Services India Private Limited (Dell), Fortinet Inc, and Nutanix Netherlands B.V. (Nutanix).
Orient Technologies Limited’s revenue from operations during 2024 increased to Rs 602.89 crore from Rs 535.10 crore in the previous year. Profit after Tax increased by 8.22% from Rs 38.30 crore in Fiscal 2023 to Rs 41.45 crore in fiscal 2024.
Elara Capital (India) Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
