Orbit Corporation Limited IPO (Orbit IPO) Detail

Mar 20, 2007 - Mar 23, 2007

Orbit Corporation Limited is a Mumbai based real estate construction and development company with primary focus on redevelopment of existing properties. Orbit specializes in developing, designing and managing “Build to suit” high-end residential and commercial properties.

Orbit Corporation Limited also engages in real estate activities through Orbit Constructions & Realtors Private Limited, Orbit Buildcon & Realty Private Limited and Orbit Housing Private Limited.

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges and to raise capital to
1. Advances towards acquisition cost of new projects that we propose to develop/ redevelop;
2. Project development cost of the existing projects;
3. Investment in wholly owned subsidiaries.

Orbit IPO Details

IPO Opening DateMar 20, 2007
IPO Closing DateMar 23, 2007
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹108 to ₹117 per equity share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, NSE
Issue Size9,100,000 Eq Shares of ₹10
(aggregating up to ₹100.10 Cr)

Orbit IPO Lot Size

The Orbit IPO market lot size is 50 shares. A retail-individual investor can apply for up to 34 lots (1700 shares or ₹198,900).

ApplicationLotsSharesAmount (Cut-off)

Orbit IPO Subscription Status (Bidding Detail)

The Orbit IPO is subscribed 3.85x times on Mar 23, 2007 17:00. The public issue subscribed 0.89x in the retail category, 5.70x in the QIB category, and 4.60x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription


Orbit IPO Prospectus

Orbit IPO Rating

Rating:Rated 2.6 stars

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Orbit IPO Listing Date

Listing DateThursday, April 12, 2007
BSE Script Code532837
Listing InB1 Group of Securities
IPO Price₹110 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

IPO Price
Last Trade

Orbit IPO Reviews / Ratings

  • Business Line - Avoid

Company Contact Information

Orbit Corporation Limited
Orbit Corporation Limited,
1st Floor, The View, 165, Dr. Annie Besant Road,
Mumbai – 400 018

Phone: +91 22 3044 6900
Email: ipo@orbitcorp.com
Website: http://www.orbitcorp.com

Orbit IPO Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: orbitcorp-ipo@intimespectrum.com
Website: http://www.linkintime.co.in

Orbit IPO FAQs

  1. What is Orbit IPO?

    Orbit IPO is a main-board IPO of 9,100,000 equity shares of the face value of ₹10 aggregating up to ₹100.10 Crores. The issue is priced at ₹108 to ₹117 per equity share. The minimum order quantity is 50 Shares.

    The IPO opens on Mar 20, 2007, and closes on Mar 23, 2007.

    Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

  2. When Orbit IPO will open?

    The Orbit IPO opens on Mar 20, 2007 and closes on Mar 23, 2007.

  3. What is the lot size of Orbit IPO?

    Orbit IPO lot size is 50 Shares and the minimum order quantity is 50 Shares.

  4. How to apply for Orbit IPO?

    You can apply in Orbit IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

  5. When Orbit IPO allotment?

    The finalization of Basis of Allotment for Orbit IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Orbit IPO allotment status.

  6. When is Orbit IPO listing date?

    The Orbit IPO listing date is on Thursday, April 12, 2007.

Orbit IPO Message Board

Ranked Members  Ranked Members

19. trisha |Apr 17, 2007 21:13
market tip:

buy tcs @1250 target 1650 (strong order book)
buy tube invest 65 target 77 (promoter picks 12,50,000 from mkt)
buy britannia 1270 target 1650(year end)
18. trisha |Apr 14, 2007 22:15
hi jatin
i shorted 600 share @133 level & covered the same at 122.25.As you see the oversubscription figure only 0.88 subscription in retail category.retailer got subscription.it is pure promoter driven counter.it may shoot at 170 level soon.excellant future guidence given by company.15-16 rs earning per share + 80% project completed already.but actual inside story is that higher interest rate + no of pending case aginst the co + letigation + no oversubscription in retail category + less demand .actually i am expecting this stock to touch 90 level but promoter has changed whole picture.
17. trisha |Apr 12, 2007 12:11
sell at 133 & cover at 120 .lot of cases pending ,letigation .strong sell
16. manushi |Apr 12, 2007 11:22
sell at 128,goood shorting oppertunity!!!!!large buyer at 90-100 range & seller at 130 range go short
15. manish |Apr 12, 2007 00:29
got full subscription.so panic is for sure.large short selling at 90-100 level

14. tanushree |Apr 8, 2007 01:26
this stock will crash like anything.all sellers would be there on 1st day.this stock can even go to 20-30rs in 1
month.sell it off completely even if you are lucky on opening to sell at near 70 rs
13. Reflex |Apr 7, 2007 12:06
Full Allotment to all retail Invstor. 1 Quarry, Why company who recently just befor 10 dqays accuired one of their property in auction at Bandra in Mumbai for 333 Crores haveing good team of profetionals in board will raise only 150 crores in IPO? Keep this stock for 1 year and you will get the answer.
12. rama |Apr 5, 2007 04:27
This ipo is absolutely waste of money...50% loss on first day itself...Bad management...Bad financials...Will be available at 50 rs on the listing day itself...Best of luck to bears...
11. manju |Apr 4, 2007 22:53
opening expected at 65-80 range.it is next cairn.all retailer got full subscription.so panic is for sure.large short selling at 90-100 level
10. Rajinder Kumar |Mar 22, 2007 21:24
very good IPO i have applief in full quantity u will get
100% premium sure
9. Rohit chabbra |Mar 22, 2007 08:55
See Akruti & Parsvanath and decide your self
8. vivek |Mar 20, 2007 12:52
Subscribe to this issue, will surely list at 100% premium.
Avoid ICRA as highly uncertain revenue mix.

7. Vijay |Mar 17, 2007 11:53
CARE assigns IPO Grade 1 to Orbit Corporation
2007-03-17 10:54:03 Source : Moneycontrol.com
Email Print Version
CARE has come out with report on Orbit Corporation and it has assigned a ‘CARE IPO Grade 1’ to the proposed initial public offer of Orbit Corporation.

OCL proposes an IPO of 91 lakh equity shares at a likely price band of Rs. 90 - 100. Each equity share will carry a warrant, detachable and tradable, which can be converted into equity share after 18 months of the equity allotment.

CARE has assigned a ‘CARE IPO Grade 1’ to the proposed initial public offer, IPO of Orbit Corporation (OCL). CARE IPO Grade 1 indicates ‘poor fundamentals’. CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

The grading reflects company’s positioning in premium real estate redevelopment market, innovative designs in projects, projects with warranty programs, on-going projects in hand, presence of professionals on board and experienced management. Better profitability margins due to operations under Development Control Regulation (DCR) scheme and good scope for redevelopment projects in the island city of Mumbai offers good prospects for OCL.

Corporate governance practices of the company can be considered low to moderate due to high related party transactions in the past, presence of subsidiaries / group companies in similar activities and limited functioning of board committees due to their recent formation.

The grading is also constrained by moderate level of gearing, limited project experience of OCL, relatively small size of operations, less visibility of OCL brand at state as well as national level, long gestation period of projects, concentration risk due to local focus, possible conflict of business with the entities controlled by promoters/group, Income Tax proceedings against the company, its subsidiaries and the promoters of the company and inherent risks in the real estate sector.

Orbit Corporation operates in real estate industry. The company has two wholly owned subsidiaries, which are operating in the real estate industry namely Orbit Constructions & Realtors Private Limited (OCRPL) and Orbit Buildcon & Realty Private Limited (OBRPL). Orbit Housing Private Limited is the subsidiary of OBRPL. OCL operates under the Development Control Regulation (DCR) 33(6), 33(7) and 33(10) schemes where it is focusing on the redevelopment of dilapidated buildings. The company is also an ISO 9001:2000 company.

OCL operates mainly in the DCR 33 (7) scheme where it enjoys tax benefits u/s 80IB. The company has concentrated its operations in the island city of Mumbai where it can target the high networth individuals. As on March 31, 2006, the company has completed one project, Shivam at Babulnath Road, with a saleable area of 20,455 sqft at an average value of Rs 1.74 crore per apartment. At present, the company, with its subsidiaries, is executing 12 projects in the island city of Mumbai with a saleable area of 0.58 million sqft. which are in various stages of operation.

OCL’s total income, over the last three years, has increased at a CAGR of about 120%. However, the total income for FY06 has increased by 9.13% as compared to FY05. During FY06, the company has incurred expense of Rs 124.18 lakh towards leasehold improvements in OCRPL, which will be amortized over a period of three years. This has resulted into an overall increase in gross fixed assets by Rs 197.53 lakh. The company has increased equity share capital by issuing 95 lakh and 105.96 lakh equity shares in FY05 and FY06 respectively leading to decline in RONW and earning per share and increase in net worth.

6. Umesh |Mar 15, 2007 22:46
sugessted dont apply-- waste IPO
5. Padmashali |Mar 15, 2007 10:17
Ever heard of this company, does any body know about it?
4. kishore |Mar 15, 2007 00:26
who knows about this?
3. rohit |Mar 14, 2007 22:35
this issue will be undersubscribe surely
2. govind |Mar 14, 2007 22:34
all these people are ready to loot the innocent, unwary and at times greedy public
1. amitkumararora |Mar 14, 2007 21:10
Another realty IPO iwonder who will dare to apply?

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