Orient Tech’s IPO opens on Aug 21

New Delhi: Information technology solutions provider Orient Technologies Ltd on Friday said it has fixed a price band of Rs195-206 a share for its Rs215-crore initial public offering. The initial share sale will open for public subscription on August 21 and conclude on August 23, the company announced. The initial public offering (IPO) is a combination of a fresh issue of Rs120 crore and an offer for sale of up to 46 lakh equity shares valued at Rs95 crore, at the upper end of the price band, by promoters. This aggregates the transaction size to Rs215 crore. Those offloading shares in the OFS are Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujwal Arvind Mhatre, and Jayesh Manharlal Shah.