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Orient Technologies Shares Soar 40% on Debut, Listing at ₹290 on BSE

Orient Technologies shares surged on debut, opening at ₹288.00 on the NSE and at ₹290 on the BSE, reflecting a 40% premium over the issue price of ₹206 per share.
Orient Technologies Shares Soar 40% on Debut, Listing at ₹290 on BSE

Orient Technologies had a strong stock market debut on August 28, listing at ₹290 per share on the BSE, a 40.78% premium over the issue price of ₹206, and at ₹288.00 on the NSE with a 39.80% premium, meeting market expectations.

Orient Technologies IPO was oversubscribed 151.71 times between August 21 and August 23, with bids totaling 1,13,02,20,648 shares for the ₹215-crore offer. Non-institutional investors subscribed 300.60 times, QIBs 189.90 times, and retail investors 66.87 times.

Orient Technologies Limited, a Mumbai-based IT solutions provider since 1997, excels in IT infrastructure, cloud/data management, and managed services. Partnering with Dell, Fortinet, and Nutanix, they offer advanced, customized solutions. Their focus on tailored services has attracted major clients in BFSI, IT, and healthcare, emphasizing long-term relationships and ongoing service enhancements.

Orient Technologies IPO aim to raise capital for various purposes such as funding expansion plans, enhancing technology, reducing debt, or general corporate needs. The funds were raised through a combination of a fresh issue of shares and an offer for sale.

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