Aditya Infotech IPO Fully Subscribed Within Hours of Opening

The initial public offer of Aditya Infotech Ltd, which offers video security and surveillance products under 'CP Plus' brand, got fully subscribed within hours of opening for bidding on Tuesday.

The three-day initial share sale received bids for 1,18,12,438 shares against 1,12,23,759 shares on offer, translating into 1.05 times subscription, according to data available with the NSE till 13:36 hours.

Retail Individual Investors (RIIs) part fetched 3.66 times subscription while the quota for non-institutional investors got subscribed 1.42 times. The Qualified Institutional Buyers (QIBs) portion received 1% subscription.

Aditya Infotech on Monday raised over ₹582 crore from anchor investors.

The ₹1,300-crore initial public offering (IPO) will conclude on July 31. The price band has been fixed at ₹640-675 per share.

The company's IPO is a combination of a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of shares valued at ₹800 crore by promoters.

Proceeds from the fresh to the tune of ₹375 crore have been earmarked for payment of debt while a portion will be used for general corporate purposes.

Aditya Infotech offers a comprehensive range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under 'CP Plus' brand.

In addition, the company offers solutions and services such as fully integrated security systems and security-as-a-service directly and through its distribution network.

ICICI Securities and IIFL Capital Services are the book-running lead managers to the issue.