Bidding for the initial public offering (IPO) of Orient Technologies Limited opened on 21st August 2024 and will remain open for bidding till 23rd August 2024. The company has fixed the Orient Technologies IPO price band at ₹195 to ₹206 per equity share. After day one of bidding, Orient Technologies IPO subscription status suggests a strong response by the primary market investors. Meanwhile, the grey market has gone bullish on Orient Technologies IPO. According to stock market observers, Orient Technologies IPO GMP (grey market premium) today is ₹33.

Orient Technologies IPO GMP today

As mentioned above, Orient Technologies IPO GMP today is ₹33, which is ₹3 higher than yesterday's GMP of ₹30. They said that the rise in the grey market sentiments regarding Orient Technologies IPO can be attributed to two significant reasons: strong Orient Technologies IPO subscription status after day one of bidding and positive sentiments in the Indian stock market. They said Orient Technologies IPO GMP may improve further if the bull trend on Dalal Street extends for a few more sessions.

Orient Technologies IPO subscription status

By 3:09 PM on day 2 of bidding, the public issue had been booked 14:49 times, the retail portion of the public offer had been filled 21:73 times, the NII portion had been subscribed 16.08 times, and the QIB segment had been booked 0.10 times.

Orient Technologies IPO review

Giving a 'subscribe' tag to the public offer, Anand Rathi says, "Orient Technologies is engaged in I.T. solutions and related services across the business verticals. OTL's business operations involve technologically advanced solutions for which the company collaborates with a wide range of technology partners, including Dell International Services India Private Limited (Dell), Fortinet, Inc. (Fortinet) and Nutanix Netherlands B.V. (Nutanix). At the upper price band, the company is valued at a P/E of 20.7x with a market cap of ₹8,580 million post-issue of equity shares and a return on net worth of 27.2%. On the valuation front, the company is fairly priced. Thus, we recommend a "SUBSCRIBE" rating for the IPO."