Orient Technologies said it has received a purchase order worth Rs 762 million (mn), excluding Goods and Services Tax, from the National Payments Corporation of India for the supply of servers. The order includes supply of servers together with end-of-sale support and seven years of warranty support backed by the original equipment manufacturer. The domestic contract is slated for execution within 18 weeks according to the company's regulatory filing.

The company noted that the engagement does not involve any interest from the promoter, promoter group or group companies in the awarding entity and that the order does not constitute a related party transaction. The order value will be recognised as revenue as per accounting norms when delivery and obligations are completed. Orient Technologies will work with its OEM partner to fulfil long term support obligations.

Shareholders had earlier approved a bonus issue in the ratio of one for every 10 shares, the first since listing last year, and the company will effect the bonus by capitalisation of Rs 41.6 mn from the securities premium account following stock exchange approvals. Eligible shareholders will be entitled to one bonus share for every 10 shares held on the record date to be determined later. The decision was taken alongside results for the September quarter.

Orient Technologies provides data centre solutions including servers and storage, active and passive networking equipment and security and collaboration systems, as well as end-user computing and cloud and data management services including workload migration to cloud. The company also offers IT enabled services such as desktop management and mobile device management. Shares of Orient Technologies ended at Rs 259.05, up by Rs 1.95, or 0.76 per cent, on the BSE.