Orient Technologies Ltd.

The Securities and Exchange Board of India (SEBI) has given its approval to Orient Technologies to raise funds via initial public offering (IPO). The initial share-sale is a combination of a fresh issue of Rs 120 crore and an Offer For Sale (OFS) of up to 46 lakh equity shares by promoters.

Proceeds from the fresh issue to the tune of Rs 79.65 crore will be used for funding capital expenditure requirements, Rs 10.35 crore for the acquisition of office premises at Navi Mumbai, and a portion will also be used for general corporate purposes. Elara Capital (India) is the sole book-running lead manager for the IPO. The equity shares are proposed to be listed on the BSE and NSE.

Over the years, Orient Technologies has developed deep expertise in creating products and solutions for specialised disciplines across IT Infrastructure, IT Enabled Services (IteS), and Cloud and Data Management Services.