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Orient Technologies’ Rs 215 cr IPO to open for subscription on Aug 21
Information technology solutions provider Orient Technologies Ltd on Friday said it has fixed a price band of Rs 195-206 a share for its Rs 215-crore initial public offering.
The initial share sale will open for public subscription on August 21 and conclude on August 23, the company announced.
The initial public offering (IPO) is a combination of a fresh issue of Rs 120 crore and an offer for sale of up to 46 lakh equity shares valued at Rs 95 crore, at the upper end of the price band, by promoters. This aggregates the transaction size to Rs 215 crore.
Those offloading shares in the OFS are Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah.
Proceeds from the fresh issue to the tune of Rs 79.65 crore will be used for funding capital expenditure requirements, Rs 10.35 crore for the acquisition of office premises at Navi Mumbai, and a portion will also be used for general corporate purposes.
Investors can bid for a minimum of 72 equity shares a
