Orient Technologies Limited has published its regulatory intimation under Regulation 30 and Regulation 47 of SEBI Listing Regulations regarding variation in terms of issue objects on February 25, 2026. The company simultaneously announced the commencement of its postal ballot process for extending the timeline to utilize ₹51.36 crore unutilized IPO proceeds from March 31, 2026 to March 31, 2027.

Regulatory Compliance and Publication

The company has fulfilled its regulatory obligations by publishing the Form PAS-1 notice in multiple newspapers on February 25, 2026. The publication appeared in The Financial Express and Free Press Journal (English editions) and Navshakti (Marathi edition), ensuring comprehensive reach to stakeholders.

E-Voting Schedule and Process

The remote e-voting facility commenced on February 25, 2026 at 09:00 a.m. (IST) and will conclude on March 26, 2026 at 05:00 p.m. (IST). National Securities Depository Limited (NSDL) provides the e-voting platform for all shareholders, with the cut-off date for determining eligible voters set as February 20, 2026.

IPO Proceeds Utilization Status

The company's IPO, conducted through a prospectus dated August 26, 2024, comprised 10,425,242 equity shares of face value ₹10 each. The fresh issue component raised ₹1,200.00 million through 5,825,242 equity shares. As of February 12, 2026, the company has unutilized proceeds of ₹51.36 crore from the total IPO amount of ₹107.93 crore.

Strategic Reallocation and Timeline Extension

The company plans to transfer the balance unutilized amount from NOC and SOC equipment purchases to the Device-as-a-Service (DaaS) business segment. This reallocation reflects cost optimization achieved in the original equipment procurement while maintaining operational capabilities. The proposed timeline extension to March 31, 2027 will enable calibrated deployment of funds in the DaaS segment with comprehensive creditworthiness assessments and evaluation of long-term strategic engagement potential.

Governance and Approval Process

CS Alwyn D'Souza of M/s Alwyn D'Souza & Co., Practicing Company Secretary (Membership No. FCS 5559 & Certificate of Practice No. 5137), has been appointed as the Scrutinizer for the e-voting process. The postal ballot notice, approved by the Board of Directors on February 13, 2026, is being sent electronically to shareholders whose email addresses are registered with the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The resolution requires approval as a Special Resolution and will be deemed passed on March 26, 2026 if approved by the requisite majority.

Orient Technologies Limited announced its unaudited financial results for the quarter ended December 31, 2025, alongside significant corporate developments including CEO resignation and plans for IPO proceeds extension timeline. The company has now scheduled a post-results conference call to discuss these developments with investors and analysts.

Q3FY26 Financial Performance

The company reported mixed financial performance for the quarter, with revenue declining compared to the previous quarter but showing growth year-over-year:

For the nine-month period ended December 31, 2025, the company achieved revenue of Rs. 68,359.76 crore with a net profit of Rs. 924.45 crore, compared to Rs. 57,884.75 crore revenue and Rs. 3,698.92 crore profit in the corresponding period last year.

Post-Results Conference Call Details

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company will host a post-results conference call to discuss the Q3FY26 financial performance:

The conference call will be represented by Mr. Ajay Sawant (Chairman & Managing Director), Mr. Shrihari Bhat (Chief Executive Officer), and Mr. Gaurav Modi (Chief Financial Officer).

Exceptional Items Impact

The company reported exceptional items totaling Rs. 1,923.53 crore during the quarter, comprising:

The customer loss relates to significant cloud-based marketplace support costs that were expected to be amortized over revenue cycles but became unrecoverable after relationship discontinuation.

Leadership Changes and Corporate Developments

The Board of Directors approved several key decisions during their meeting held on February 13, 2026:

IPO Proceeds Utilization Status

The company's IPO proceeds utilization shows significant pending deployment:

The unutilized funds of Rs. 65.58 crore are deployed in fixed deposits with Citi Bank (Rs. 35.00 crore at 4.00%) and ICICI Bank (Rs. 30.00 crore at 5.85%), with remaining amounts in monitoring accounts.