India's Orient Technologies jumps 47% in debut trade

Orient Technologies

28/08/2024 07:58

** Shares of Orient Technologies  ORIC.NS  surge as much as
46.8% to 302.4 rupees on the first day of trading 
    ** The IT solutions firm opened at 288 rupees, a ~40%
premium on its IPO price of 206 rupees 
    ** ORIC's IPO included 1.2 bln rupees ($14.3 mln) worth of
fresh issue of shares and was oversubscribed by nearly 152 times
    ** Co said it will use IPO proceeds for expansion of office
premises, purchase of equipment and devices 

($1 = 83.9650 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))