The bidding for Orient Technologies Limited’s Initial Public Offering (IPO) commenced on August 21, 2024, and will run until August 23, 2024. The IPO is priced between ₹195 and ₹206 per share. As of the second day of bidding, there are updates on the IPO’s subscription status and Grey Market Premium (GMP).
As of the second day, the Orient Technologies IPO has received strong interest:
- Overall Subscription: The IPO is 9.66 times oversubscribed.
- Retail Investors: The IPO is 15.01 times oversubscribed.
- Non-Institutional Investors: The IPO is 9.57 times oversubscribed.
- Qualified Institutional Buyers: The IPO is 0.04 times oversubscribed.
The subscription figures reflect significant enthusiasm from retail and non-institutional investors.
The GMP for the Orient Technologies IPO is currently ₹33, up from ₹30 the previous day. GMP indicates how much more investors are willing to pay in the grey market compared to the IPO issue price. An increase in GMP suggests positive sentiment towards the IPO’s performance once listed.
- Company Performance: Review the company’s financial health, growth potential, and industry position.
- Pricing: Assess the IPO’s price range in relation to the company’s valuation and industry standards.
- Risk Factors: Consider your risk tolerance, as IPOs can be volatile.
- Market Trends: Monitor overall market trends and performance of similar IPOs.
The high subscription rates and rising GMP indicate strong investor interest and positive market sentiment towards the Orient Technologies IPO. Keeping these factors in mind will help in making a well-informed investment decision.