The initial public offering (IPO) of Aditya Infotech was subscribed 1.85 times on the first day of the bidding process, Tuesday, July 28.
On Tuesday, the issue had received bids for 2,07,89,802 crore shares against 1,12,23,759 shares, according to BSE data.
Category-wise, the highest interest came from the retail portion, with a 6.03 times subscription, while the non-institutional investors (NIIs) segment saw a 2.78 times subscription.
Meanwhile, qualified institutional buyers (QIBs) showed the least interest, subscribing to one per cent of their allotted quota — bidding for only 51,150 shares against 60,65,625 shares.
As per the IPO structure, 75 per cent of the issue is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.
The company has launched an IPO aimed at raising Rs 1,300 crore. It fixed the price band between Rs 640 and Rs 675 per share
The company’s IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of shares valued at Rs 800 crore by promoters.
Ahead of its IPO launch, the company raised Rs 582.3 crore from anchor investors on Monday.
Out of the fresh issue proceeds, Rs 375 crore has been earmarked for debt repayment, with the remaining to be used for general corporate purposes. According to the draft red herring prospectus, the company’s total borrowings stood at approximately Rs 405 crore as of March 2024.
About Aditya Infotech
Aditya Infotech is known for offering a wide portfolio of advanced video security and surveillance solutions under the ‘CP Plus’ brand, catering to both enterprise and consumer markets. It also provides integrated security systems and security-as-a-service through direct channels and an extensive distribution network.
