Aditya Infotech IPO: CP Plus-Owned Company Fully Subscribed Within Hours of Opening for Bidding

Aditya Infotech Ltd's initial public offer of video security and surveillance products under the 'CP Plus' brand was fully subscribed within hours of opening for bidding on Tuesday, July 29. 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 until 13:36 hours.

The Retail Individual Investors (RIIs) portion received 3.66 times the subscription, while the quota for non-institutional investors received 1.42 times the subscription. The Qualified Institutional Buyers (QIBs) portion received 1 per cent subscription. Aditya Infotech on Monday raised over Rs 582 crore from anchor investors.

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The Rs 1,300-crore initial public offering (IPO) will conclude on July 13. The price band has been fixed at Rs 640-675 per share. The company's IPO combines a fresh issue of equity shares worth Rs 500 crore with an offer for sale (OFs) of shares valued at Rs 800 crore by promoters.

Proceeds from the fresh, amounting to Rs 375 crore, have been earmarked for debt payment, 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 through its distribution network.