As the Orient Technologies IPO enters its second day, investor interest continues to grow, with the grey market premium (GMP) rising and subscription numbers showing strong momentum. The bidding, which opened on 21st August 2024, will remain open until 23rd August 2024. The company has set the Orient Technologies IPO price band between ₹195 to ₹206 per equity share, and after the first day of bidding, the IPO has received an overwhelmingly positive response from primary market investors.
Orient Technologies IPO Day 2: GMP Update
On Orient Technologies IPO Day 2, the grey market premium (GMP) has risen to ₹33, a ₹3 increase from the previous day’s ₹30. Market experts attribute this rise to the strong subscription status and bullish sentiment in the Indian stock market. If this trend continues, the GMP could see further improvement, especially if the positive market sentiment persists.
Orient Technologies IPO Day 2: Subscription Status
By 10:42 AM on the second day of bidding, Orient Technologies IPO had been subscribed 9.66 times. The retail portion showed significant interest, with a subscription rate of 15.01 times. The Non-Institutional Investors (NII) segment was subscribed 9.57 times, while the Qualified Institutional Buyers (QIB) portion had been booked 0.04 times. This strong subscription on Orient Technologies IPO Day 2 reflects growing confidence in the company’s potential.
Orient Technologies IPO Review
Analysts have given the Orient Technologies IPO a favorable outlook. Anand Rathi, a prominent financial services firm, has recommended a ‘subscribe’ rating, noting that Orient Technologies is involved in advanced IT solutions and services across various business verticals. The company collaborates with renowned technology partners like Dell, Fortinet, and Nutanix. Valued at a P/E of 20.7x with a market cap of ₹8,580 million post-issue and a return on net worth of 27.2%, the IPO is considered fairly priced.
B.P. Equities has echoed this sentiment, assigning a ‘subscribe’ rating to the IPO. They emphasize that Orient Technologies’ financial performance is expected to be driven by an expanding product and services portfolio, growing global footprint, and strong partnerships with technology leaders. With the issue valued at a P/E of 20.7x on the upper price band based on FY24 earnings, the IPO is deemed fair compared to its peers.
Investors are advised to consult with certified financial experts before making any investment decisions, as the views expressed in this article reflect the opinions of individual analysts and do not represent the official stance of News Now Nation.
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