The IPO of solutions provider company Orient Technologies is opening for subscription today. This IPO, which will open on Wednesday, August 21, will close on Friday, August 23. This will be a mainboard IPO, under which the company will raise Rs 214.76 crore. Under the IPO, the company will issue a total of 1,04,25,243 shares. In this, 58,25,243 new shares worth Rs 120.00 crore will be issued and 46,00,000 shares worth Rs 94.76 crore will be issued by the company's promoters through OFS.
Retail investors will have to invest at least Rs 14,832
Orient Technologies has fixed a price band of Rs 195 to Rs 206 for each share under its IPO. Retail investors subscribing to the IPO will have to invest at least Rs 14,832 for one lot. In this amount, they will be given 72 shares. Apart from this, retail investors can invest a maximum of Rs 1,92,816 under this IPO. In this investment, they will get 13 lots, which will have a total of 936 shares.
Shares may be listed on BSE and NSE on August 28
After the IPO closes, shares will be allotted on Monday, August 26. Shares will be credited to the investors' demat accounts on Tuesday, August 27. The company's listing in the stock market may take place on Wednesday, August 28. Shares of Orient Technologies will be on both major market exchanges BSE and NSE.
IPO will come soon
Baazar Style Retail IPO: Kolkata-based value fashion retailer Bazaar Style Retail's IPO may hit the streets very soon. According to a report by Live Mint, the IPO of this Rekha Jhunjhunwala-backed company is expected to launch on Friday, August 30 or Monday, September 2. The price band of the issue may be released on Monday, August 26 or Tuesday, August 27.
Rekha Jhunjhunwala will sell shares under OFS
Rekha Jhunjhunwala, wife of stock market king Rakesh Jhunjhunwala, who is known as Warren Buffett and Big Bull of India, plans to sell 27.23 lakh equity shares in OFS. Intensive Softshare Private Limited intends to sell 22.40 lakh shares and Intensive Finance Private Limited will sell 14.87 lakh shares.
Other shareholders participating in the OFS include Chandurkar Investments, Subroto Trading & Finance Company Limited, Rajnish Gupta, Madhu Surana, Sabita Agarwal, Rekha Kedia, Shakuntala Devi and DK Surana HUF, who will sell their shares.
Baazar Style Retail reduces IPO size
In August, Bazaar Style Retail raised Rs 37 crore from Volrado Ventures Partners Fund II in a pre-IPO round. As a result, the size of the company's IPO has been reduced from Rs 185 crore to Rs 148 crore. Bazaar Style Retail is one of the leading players in the value retail market in West Bengal and Odisha. The company has 153 stores spread across 140 cities in 9 states as of December 31, 2023.
The money raised from the IPO will be used to repay debt
The company will use the amount raised from the fresh issue, which is Rs 135 crore, to repay debt and for general corporate purposes. According to the DRHP, the company recorded a revenue of Rs 787.9 crore from operations in FY23. The net profit of the company was Rs 5.4 crore.
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