Orient Technologies' IPO Sees Massive 151.71x Oversubscription on Final Day

Orient Technologies' initial public offering (IPO) was subscribed 151.71 times on the final subscription day. The Rs 215-crore offer saw significant interest, particularly from Non-Institutional Investors, and raised Rs 64.42 crore from anchor investors. The IPO combines a fresh issue and an offer-for-sale by promoters.

Orient Technologies' initial public offering (IPO) garnered substantial attention, with a subscription rate of 151.71 times on its final day.

The Rs 215-crore IPO received bids for 1,13,02,20,648 shares, against an offer of 74,49,846 shares, as per NSE data. Non-Institutional Investors subscribed 300.60 times, Qualified Institutional Buyers subscribed 189.90 times, and retail investors subscribed 66.87 times.

Earlier, the IT solutions provider raised Rs 64.42 crore from anchor investors. The IPO features a fresh issue of Rs 120 crore and an offer-for-sale of up to 46 lakh equity shares, valued at Rs 95 crore. Proceeds will fund capital expenditures, office acquisition, and other corporate purposes.

(With inputs from agencies.)