The company raised Rs. 215 crore plans to raise, of which Rs. 120 crore new equity sale and offer for sale (OFS) of 46 lakh shares.
Under the OFS, promoters Ajay Baliram Sawant, Umesh Navneetal Shah, Ujwal Arvind Mhatre and Jayes Manharlal will sell their stake.
In an IPO, about 50% of the public offering is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
The proceeds from the fresh issue will be used to fund capital expenditure requirements, acquisition of office premises at Navi Mumbai and general corporate purposes.
Over the years, Orient Tech has developed deep expertise in building products and solutions for specific disciplines across IT infrastructure, IT Enabled Services (IteS) and cloud and data management services.
It collaborates with top technology companies such as Dell, Fortinet and Nutanix to offer cutting-edge solutions tailored to the specific needs of their customers.
Products and services offered by Orient Technologies in IT infrastructure include data center solutions and end-user computing.
The IT infrastructure segment has a track record of being the longest operational business segment and is also the largest revenue generating segment. It has added new products making it a broad-based offering, and growing at a CAGR of 58.60% between FY 2021 and FY 2023.
In FY24, the company’s revenue from operations grew 12% year-on-year to Rs. 603 crore, while the profit for the same period increased to Rs. 41.4 crores.
Elara Capital is acting as the sole book running lead manager for the IPO and Link Intime India is the registrar.
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