Orient Technologies IPO Allotment Finalized: How to Check Your Status and What’s Next?
The much-anticipated Orient Technologies Initial Public Offering (IPO) allotment has been finalized today, Monday, August 26, 2024, bringing an end to the intense waiting period for investors who eagerly subscribed to the offering. With an overwhelming response that saw the IPO being oversubscribed multiple times, both retail and institutional investors are now keen to know their allotment status. This article will guide you through the process of checking your allotment status and provide updates on the grey market premium (GMP) for the IPO.
A Record-Setting Subscription
The Orient Technologies IPO, which opened on August 21 and closed on August 23, 2024, was met with an enthusiastic response from investors across the board. By the time the subscription period ended, the IPO had been oversubscribed 151.71 times, a testament to the strong interest in the Mumbai-based IT solutions provider. Retail investors subscribed to their portion 66.87 times, while non-institutional investors (NII) pushed their quota to an incredible 300.60 times. Qualified Institutional Buyers (QIBs) also showed robust participation, with their portion being subscribed 189.90 times.
Such an overwhelming response has raised expectations for a strong listing of Orient Technologies shares, with investors eagerly awaiting the official debut on the stock exchange.
Checking Your IPO Allotment Status
For investors who applied for the Orient Technologies IPO, the next crucial step is to check whether they have been allotted shares. Here’s how you can check your allotment status:
1. Through the IPO Registrar’s Website (Link Intime India)
- Step 1: Visit the Link Intime India website: Link Intime India Public Issues.
- Step 2: Select the 'Orient Technologies IPO' from the drop-down menu (the name will be available after the allocation process is finalized).
- Step 3: Click on the 'Application No.', 'Demat Account', or 'PAN' option to view your current status.
- Step 4: Choose either 'ASBA' or 'Non-ASBA' as your application type.
- Step 5: Provide the relevant details for the mode selected.
- Step 6: Complete the captcha and submit the form to view your IPO allotment status.
2. Through the BSE Website
- Step 1: Go to the BSE’s allotment status page: BSE Allotment Check.
- Step 2: Under 'Issue Type', select 'Equity'.
- Step 3: Choose 'Orient Technologies IPO' from the drop-down menu.
- Step 4: Enter your PAN or application number.
- Step 5: Confirm you are not a robot and click 'Submit' to view your status.
3. Through the NSE Website
- Step 1: Visit the NSE allotment status page: NSE Allotment Check.
- Step 2: Sign up using your PAN number.
- Step 3: Log in with your username and password, then check your IPO allotment status on the new page.
Grey Market Premium (GMP) Update
As of today, the grey market for Orient Technologies shares is showing a strong premium, reflecting the high demand and positive market sentiment. The current GMP stands at ₹82, which suggests that the shares are trading at a premium of ₹82 over the upper end of the IPO price band, which was set between ₹195 and ₹206 per share.
This indicates that the estimated listing price for Orient Technologies shares could be around ₹288 per share, representing a potential 39.81% increase over the IPO price of ₹206. The GMP has been steadily rising over the past 18 sessions, signaling strong investor confidence in the company’s future prospects.
What’s Next?
For those who were not allotted shares, the refund process will begin on Tuesday, August 27, 2024. Meanwhile, those who were successful in the allotment will see their shares credited to their demat accounts on the same day. The official listing date for Orient Technologies is set for Wednesday, August 28, 2024, when the shares will start trading on the stock exchange.
As the IPO journey concludes, investors and market watchers alike are eagerly anticipating how Orient Technologies will perform on its debut. With strong fundamentals, a solid business model, and an enthusiastic investor base, the company’s listing is poised to make a significant impact on the market.
This IPO marks another milestone in India’s dynamic and growing financial market, showcasing the potential and investor appetite for innovative companies like Orient Technologies.
