Orient Technologies Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

ORIENTTECH · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-6.5%1-day move

₹283.90

prior close

₹267.25

base price

After-mkt

timing

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AI summary

Orient Technologies Limited has filed a compliance statement under SEBI Regulation 32(1) regarding utilization of IPO proceeds. The company raised Rs. 214.76 crore through its IPO on August 28, 2024, comprising a fresh issue of Rs. 120 crore and an offer for sale of Rs. 94.76 crore. CARE Rating Limited is the monitoring agency. The filing explicitly confirms there is NO deviation or variation in the use of IPO funds. Of the Rs. 120 crore net proceeds, Rs. 76.27 crore has been utilized: Rs. 10.35 crore for office premises acquisition, Rs. 40.21 crore for capital expenditure, Rs. 17.93 crore for general corporate purposes, and Rs. 7.76 crore for issue expenses. The remaining funds are expected to be deployed as planned.

Likely market impact

No immediate impact on shareholders as the company has confirmed proper utilization of IPO funds with no material deviation. The partial utilization of Rs. 76.27 crore out of Rs. 120 crore appears to be normal deployment timing rather than a concern.