Aditya Infotech shares debuted with a 53% premium, listing at ₹1,015 on NSE against the IPO price of ₹675 and later trading as high as ₹1,035.05 on BSE, despite overall negative market sentiment.
The company’s ₹1,300 crore IPO was oversubscribed 100.69 times, with over ₹582 crore raised from anchor investors ahead of the issue.
The IPO comprised a ₹500 crore fresh issue and an ₹800 crore Offer For Sale by promoters. Around ₹375 crore from the proceeds will be used to repay debt, with the rest for general purposes.
Shares of Aditya Infotech, which offers video security and surveillance products under the 'CP Plus' brand, on Tuesday listed with a premium of 53% against the issue price of ₹675.
The company's stock is listed at ₹1,015 apiece, a jump of 50.37% from the issue price on the NSE. Later, it rose by 52.73% to trade at ₹1,032 on the exchange.
On the BSE, it surged 50.81% to ₹1,018 in the initial trade. Later, it rallied 53.34 per cent to trade at ₹1,035.05 apiece.
The company's market valuation stood at ₹12,180.53 crore on the BSE.
Meanwhile, the market is trading in the negative territory. The 30-share BSE Sensex declined 377.10 points or 0.47% to trade at 80,641.62, and the NSE Nifty fell 102.80 points or 0.42% to 24,619.95.
The ₹1,300 crore Initial Public Offer (IPO) of Aditya Infotech received a whopping 100.69 times subscription on the closing day of bidding on Thursday.
Last week, Aditya Infotech said it had raised over ₹582 crore from anchor investors, ahead of the IPO.
The initial share sale had a price band of ₹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 issue 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 the '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.
