August 24, 2024
New Delhi, India
Orient Technologies Limited IPO
The bidding for the Orient Technologies Limited IPO concluded last Friday, leaving investors eagerly awaiting the allotment date. According to the new ‘T+3’ listing rule that became mandatory on December 1, 2023, the likely date for the share allotment is August 26, 2024, which is this upcoming Monday.
Allotment Date and How to Check: Applicants who participated in the IPO can check their allotment status online on the expected date. To do so, they can log in to the BSE website or the registrar’s website—Link Intime India Private Limited. For convenience, investors can use direct links:
- BSE: bseindia.com/investors/appli_check.aspx
- Link Intime: linkintime.co.in/initial_offer/public-issues.html
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The Orient Technologies IPO was well-received in the market, with a subscription rate of 151.71 times. This strong demand reflects the positive sentiment among investors.
Grey Market Premium (GMP): The grey market has reacted positively to the IPO. As of today, the Orient Technologies IPO GMP is ₹83, up from ₹70 last Friday. Market observers attribute this rise in GMP to the robust subscription numbers and a generally positive outlook in the Indian stock market. If the Nifty 50 index performs well in the coming week, particularly if it crosses the 25,000 mark, the GMP for Orient Technologies could increase further.
Expected Allotment Date: As mentioned, the allotment of shares for Orient Technologies is expected on August 26, 2024. Investors are advised to check the status of their application on that day.
Disclaimer:
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