Orient Technologies IPO (OTL IPO) Date, Details, Allotment and Analyses

Orient Technologies is set to launch its initial public offering (IPO), which will be a book-built issue. The IPO consists of a fresh issuance of shares worth ₹120 crore and an offer for sale of 4.6 lakh shares.

The subscription period for the Orient Technologies IPO will begin on August 21, 2024, and end on August 23, 2024. Allotment results are expected to be finalized on August 26, 2024, and the shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 28, 2024.

Details regarding the price band for the shares have not yet been announced. Elara Capital (India) Private Limited is managing the IPO, while Link Intime India Private Ltd will serve as the registrar for the offering.

Ref. Doc – Orient Technologies IPO DRHP

Orient Technologies IPO Details

Open Date	August 21, 2024
Close Date	August 23, 2024
IPO Size	Aggrecating upto ₹[.] Cr.
Face Value	₹10 per share
Fresh Issue	Aggrecating upto ₹120 Cr.
IPO Price Band	[.] per share
IPO Listing on	BSE NSE
Lot Size	[.] Shares
OFS	4,600,000 shares
Share Offered to Retail	35%
Share Offered to QIB	50%
Share Offered to HNI	15%

Orient Technologies IPO Date

• IPO Open Date: August 21, 2024
• IPO Close Date: August 23, 2024
• Allotment: August 26, 2024
• Refunds: August 27, 2024
• Shares Credit to Demat: August 27, 2024
• Listing Date: August 28, 2024

Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	–	–
Retail (Max)	–	–	–
S-HNI (Min)	14	–	–
S-HNI (Max)	–	–	–
B-HNI (Min)	68	–	–

Promoter Holding

The promoters of Orient Technologies include Ajay Baliram Sawant, Jayesh Manharlal Shah, Umesh Navnitlal Shah, and Ujwal Arvind Mhatre. Their collective shareholding before the issue stands at 97.96%.

Orient Technologies IPO GMP (Grey Market Premium)

If you want to know Orient Technologies IPO GMP (Grey Market Premium) then please visit our IPO GMP section and get daily updates on grey market premium. We update here all IPOs GMP.

Orient Technologies IPO Subscription Status

Orient Technologies IPO subscription starts on August 21, 2024, To get live IPO subscription status data go to our IPO Subscription section and see any ongoing IPO Subscription Status.

Orient Technologies IPO Allotment Status

To check the Orient Technologies IPO allotment status go to the IPO registrar website ”Link Intime India Private Limited” or go to IPO Allotment>>.
You can find here any IPO allotment status. Following some stapes.

1. Go to the Link given above.
2. Select the IPO Name
3. Enter your PAN/ DP ID/ Application No
4. Submit details and get the allotment status.

Know About Company

Orient Technologies Limited is a rapidly growing IT solutions provider based in Mumbai, Maharashtra. Founded in 1997, the company has built deep expertise in developing customized products and solutions for specialized disciplines across its business verticals, which include:

IT Infrastructure

• Data Centre Solutions
• End-User Computing

IT Enabled Services (ITeS)

• Managed Services
• Multi-Vendor Support Services
• IT Facility Management Services
• Network Operations Centre Services
• Security Services
• Renewals

Cloud and Data Management Services

• Migration of workloads from data centres to the cloud

One of the key strengths of Orient Technologies is its ability to tailor its offerings to meet the specific needs of each customer. This has helped the company attract prominent clients across diverse industries such as BFSI, IT, ITeS, healthcare, and pharmaceuticals.

Some of the company’s notable clients include:

• Bluechip Corporate Investment Centre
• Tradebulls Securities
• Vasai Janata Sahakari Bank
• Coal India
• Mazagon Dock Shipbuilders

Orient Technologies collaborates with leading technology partners like Dell, Fortinet, and Nutanix to enhance its ability to design and deliver innovative, customized solutions to its clients. The company’s constant focus is on nurturing long-term client relationships by continuously engaging with customers to better understand their requirements and identify new areas for collaboration.

With its strong track record, diverse range of offerings, and ability to provide tailored solutions, Orient Technologies is well-positioned to capitalize on the growing opportunities in the IT services industry and drive continued growth and success in the years ahead.

Orient Technologies Limited Financial Information

The financial information for Orient Technologies Limited :

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets (₹ Crore)	238.45	215.25	176.32	112.45
Revenue (₹ Crore)	268.17	542.01	469.12	248.96
Profit After Tax (₹ Crore)	16.40	38.30	33.49	0.13
Net Worth (₹ Crore)	145.04	128.82	94.11	61.29
Total Borrowing (₹ Crore)	6.58	12.86	2.28	9.22

KPI Of Orient Technologies Limited

Here’s the KPI in table format, with amounts in ₹ Crore:

Particulars	Six Months Ended September 30, 2023	Fiscal 2023	Fiscal 2022
Revenue from Operations	266.31	535.10	467.44
Gross Profit	149.66	102.58	86.21
Gross Profit Margin (In %)	18.65%	19.17%	18.44%
EBITDA	22.80	48.64	45.82
EBITDA Margin (In %)	8.56%	9.09%	9.80%
Profit Before Tax (PBT)	21.77	51.95	44.55
Profit After Tax (PAT)	16.40	38.30	33.49
PAT Margin (In %)	6.16%	7.16%	7.17%
ROCE (In %)	13.21%	31.45%	45.25%
Inventory Turnover Ratio (In Times)	18.30	39.77	42.27
DSCR (In Times)	3.61	4.53	26.45
Return on Net Assets (In %)	11.30%	29.73%	35.59%
ROE (In %)	11.97%	34.36%	43.11%
Current Ratio (In Times)	2.28	2.21	1.90
Trade Receivable Turnover Ratio (In Times)	1.99	5.00	6.11
Net Capital Turnover Ratio (In Times)	1.99	4.54	5.60

Orient Technologies IPO Valuation

The IPO valuation table for Orient Technologies Limited for FY2023:

Valuation Metric	Value
Earnings Per Share (EPS)	₹10.94 per Equity Share
Price/Earnings (P/E) Ratio	–
Return on Net Worth (RoNW)	29.73%
Net Asset Value (NAV)	₹73.61 per Equity Share

Objects of the Issue

• Acquisition of Office Premises:
  Purchase of office units 1201, 1202, 1203, and 1204 at Plutonium Business Park, Trans-Thana Creek Industrial Area, Turbhe MIDC, District Thane, Navi Mumbai (collectively known as Navi Mumbai Property).
  Funding Capital Expenditure:
  i. Purchase of equipment for setting up the Network Operating Centre (NOC) and Security Operation Centre (SOC) at Navi Mumbai Property.
  ii. Purchase of equipment and devices for the Device-as-a-Service (DaaS) offering.
  General Corporate Purposes.
  

Peer Group

• Dynacons Systems & Solutions Limited
• HCL Technologies Limited
• Wipro Limited
• LTIMindtree Limited
• Allied Digital Services Limited
• Dev Information Technology Limited
• Tech Mahindra Limited
• Silicon Rental Solutions Limited

Orient Technologies IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: Signatureglobal.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Orient Technologies IPO Lead Manager

Elara Capital (India) Private Limited
One International Centre, Tower 3, 21st Floor,
Senapati Bapat Marg, Elphinstone Road West, Mumbai 400 013,
Maharashtra, India | Tel: +91 22 6164 8599 |
Email: otl.ipo@elaracapital.com | Website: www.elaracapital.com

Orient Technologies Limited Contact

Orient Technologies Limited
Off No-502, 5th Floor, Akruti Star,
Central Road, MIDC, Opp. Akruti Point Central
Andheri (East), Mumbai – 400093
Phone: +91 22 4292 8777
Email: complianceofficer@orientindia.net
Website: https://www.orientindia.in/

Orient Technologies IPO Application Form PDF

To download the Orient Technologies IPO application form Check out the Application Form Download ASBA IPO Forms PDF.

Analyses Of Orient Technologies IPO

Pros:

1. Revenue Growth:
   • Revenue has increased significantly from ₹247.34 Crore in FY2021 to ₹535.10 Crore in FY2023, showing strong growth.
2. Profitability Improvement:
   • Profit After Tax (PAT) has grown substantially from ₹0.13 Crore in FY2021 to ₹38.30 Crore in FY2023, indicating improved profitability.
3. Healthy RoNW:
   • Return on Net Worth (RoNW) is 29.73%, reflecting efficient use of equity and strong returns for shareholders.
4. Strong Gross Profit Margin:
   • The gross profit margin is relatively stable and strong, ranging between 12.58% and 19.17% over the years, indicating effective cost management.
5. Low Debt Levels:
   • Total borrowings are relatively low compared to assets and revenue, suggesting a lower financial risk.
6. Good Liquidity Ratios:
   • The current ratio is consistently above 2, which is favorable for short-term liquidity and financial stability.

Cons:

1. High Inventory Turnover Ratio:
   • The inventory turnover ratio has decreased from 49.49 times in FY2021 to 18.30 times in FY2023, suggesting potential issues with inventory management or slower sales.
2. Volatility in Profit Margins:
   • EBITDA margin and PAT margin have fluctuated, with EBITDA margin falling from 9.80% in FY2022 to 8.56% in FY2023, which might reflect varying operational efficiencies.
3. Low DSCR:
   • The Debt Service Coverage Ratio (DSCR) is relatively low at 3.61 times in FY2023, which could indicate potential challenges in covering debt obligations.
4. High P/E Ratio (N/A):
   • The P/E ratio is not available, making it difficult to assess the relative valuation compared to industry peers. This could be a concern for investors looking for relative valuation metrics.

Recommendation:

Buy/Not to Buy?

Buy:

• Reasoning: Orient Technologies Limited shows robust revenue growth, substantial profitability improvement, and strong return metrics. The company’s low debt levels and good liquidity ratios further support a positive investment outlook. However, potential investors should consider the high inventory turnover ratio and fluctuating profit margins as areas of concern. Overall, if the company maintains its growth trajectory and manages operational efficiencies, it could be a good investment.

Not to Buy:

• Reasoning: Potential concerns include the decreasing inventory turnover ratio and low DSCR, which might pose risks. Additionally, the absence of the P/E ratio makes it challenging to evaluate the stock’s relative valuation. If these issues are critical, investors might want to wait for further information or improvement before investing.

Conclusion:

For educational purposes, the decision to buy or not to buy should be based on a thorough evaluation of the company’s financial health, growth potential, and market conditions. Always consider consulting with a financial advisor or conducting further research before making investment decisions.

Disclaimer:

This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. The information provided is based on publicly available data and should not be considered comprehensive or conclusive. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. The author does not accept any responsibility for any financial outcomes resulting from the use of this information.

FAQs for Orient Technologies IPO