Orient Technologies IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

Up to [●] equity shares aggregating up to ₹ 1,200 million

Investor category and sub category

Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |

About Orient Technologies Limited

Orient Technologies Limited, founded in 1997, is a fast-growing IT solutions provider headquartered in Mumbai, Maharashtra. It specialises in developing tailored products and solutions across various business verticals, including IT Infrastructure, IT-enabled services (IteS), and Cloud and Data Management Services.

With deep expertise in technology, Orient Technologies collaborates with leading partners like Dell, Fortinet, and Nutanix to design and innovate products that meet specific customer requirements. This collaboration enhances the company's ability to deliver customised solutions to its diverse client base.

Focused on building long-term relationships, Orient Technologies engages closely with customers across industries such as BFSI, IT, and healthcare, understanding their needs and identifying new opportunities for collaboration.

Industry Outlook:

The IT-enabled services (ITeS) industry has experienced steady growth, with a compound annual growth rate (CAGR) of 4.8% between CY2019 and CY2022. With steady growth projected, driven by factors like increased digital transactions and the government's focus on financial inclusion, particularly in sectors like BFSI and government services, the company can tap into growing opportunities.
As of FY23, Indian IT Services constitute a significant portion, accounting for 52.4% of the total Indian IT revenue. With Indian IT Services constituting a substantial portion of the total IT revenue and the demand for IT services expected to remain strong due to ongoing digital transformation efforts across sectors, Orient Technologies is poised to capitalise on this trend. Their ability to provide tailored IT solutions and services aligns well with the industry's trajectory, positioning them for continued growth and success in the coming years.

Orient Technologies Limited IPO Details

Orient Technologies Limited IPO Dates

The exact dates are yet to be announced.

Orient Technologies Limited IPO Price Band

The exact price range is yet to be announced.

Orient Technologies Limited IPO Lot Size

The exact lot size is not announced yet.

Orient Technologies Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

The company plans to use IPO proceeds to establish Network and Security Operations Centers in Navi Mumbai, enhancing remote network management and security services, especially for clients in the banking and finance sectors.
A significant portion of the funds will be allocated towards acquiring equipment to offer Device as a Service (DaaS), simplifying hardware procurement and supporting enterprise transformation.
Any remaining funds will be deployed for general corporate purposes, such as expanding marketing skills, funding growth prospects, strategic initiatives, and the purchase of new office premises.

Peer Details

The following are the listed peers of Orient Technologies Limited:

Dynacons Systems & Solutions Limited
HCL Technologies Limited
Wipro Limited
LTI Mindtree Limited
Allied Digital Services Limited

How to Check the Allotment Status of the Orient Technologies Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Orient Technologies Limited IPO

Registered office: Off No-502, 5th Floor, Akruti Star, Central Road, MIDC, Opp. Akruti Point Central, Andheri (East), Mumbai –400093
Phone: +91 22 4292 877
E-mail:complianceofficer@orientindia.net

IPO Financials

Particulars	As at September 30, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Revenue from Operation (in ₹ million)	2,663.11	5,351.02	4,674.43	2,473.35
Profit After Tax (PAT) (in ₹ million)	163.95	382.98	334.93	1.32
Cash and Cash Equivalents (in ₹ million)	112.27	195.51	185.86	106.82
Return on Net Worth (%)	11.30	29.73	35.59	0.22
Net Debt (in ₹ million)	(65.55)	(68.67)	(229.05)	(25.51)
Return on Equity (%)	11.97%	34.36%	43.11%	0.22%
Return on Capital Employed (RoCE) (%)	15.7%	38.9%	47.4%	(17.83%)
EBITDA (in ₹ million)	227.98	486.44	458.25	31.49

Know before investing

Strengths

Since 1997, Orient Technologies Limited has built a solid reputation. They offer tailored solutions for their clients. Their clientele comes from diverse sectors: BFSI, IT, ITeS, healthcare, and pharmaceuticals. Notable clients include Coal India, Mazagon Dock, and Jyothy Labs. The company's strength lies in customising its offerings. Their top 10 clients contribute significantly to their revenue. This showcases their reliability and value.
With offerings including Data Centre Solutions, Managed Services, and Cloud Migration, Orient Technologies Limited caters to the evolving needs of modern businesses. The company's emphasis on innovation and strategic growth within each area have resulted in remarkable revenue growth in its IT Infrastructure, ITeS, and Cloud businesses.
Orient Technologies Limited has consistently demonstrated strong financial performance, characterised by steady revenue growth and profitability. With a revenue CAGR of 47.09% between Fiscal 2021 and Fiscal 2023, the company has effectively capitalised on its expanding product range and customer base. Plus, the business is positioned for long-term success in the rapidly changing IT sector thanks to its strategic investments and careful financial management.

Risks

The majority of Orient Technologies Limited's foreign exchange exposure is unhedged, making it vulnerable to changes in exchange rates. The company's direct and indirect transactions denominated in foreign currencies, especially the US Dollar (USD), are the main source of foreign currency risk. Future business transactions as well as recognized assets and liabilities that are not valued in the company's functional currency (INR) provide this risk, which calls for close monitoring and management of currency exposures.
Orient Technologies Limited manages credit risk from both operating activities (such as trade receivables) and financing activities (including deposits with banks). While the company establishes credit limits based on internal rating criteria and regularly monitors outstanding receivables, there remains a risk of default by counterparties leading to financial losses.
Orient Technologies Limited faces liquidity risk, which refers to the possibility of being unable to settle or meet its obligations on time. While the company's treasury department manages liquidity, funding, and settlement, overseen by senior management, there is inherent risk in maintaining sufficient liquidity. Fluctuations in cash flow, unexpected financial obligations, or difficulty in accessing credit facilities could potentially impact the company's ability to meet its financial commitments in a timely manner.