Aditya Infotech Ltd.'s initial public offering has been subscribed 101 times on its final day of bidding on Thursday. Retail and non-institutional investors have shown strong enthusiasm for the IPO, while qualified institutions are more reserved.
The issue was fully subscribed on the day of the launch.
The Rs 1,300-crore IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale of shares valued at Rs 800 crore. The bidding for the IPO will close on July 31. The bidding range is Rs 640 to Rs 675 per share.
Aditya Infotech will use about Rs 375 crore of the IPO proceeds to repay its outstanding borrowings. The remaining portion will be used for other general corporate purposes.
Investors can place bids starting from a minimum of 22 shares and in multiples thereafter.
Shares of Aditya Infotech are scheduled to be listed on the BSE and NSE on Aug. 5.
The company provides advanced video security and surveillance products, technologies, and solutions.
IPO Details
Issue opened: July 29.
Issue closes: July 31.
Issue price: Rs 640 to Rs 675.
Total issue size: Rs 1,300 crore.
Fresh issue: Rs 500 crore.
Offer for sale: Rs 800 crore.
Lot size: Minimum 22 shares.
Subscription Status: Day Three
The Aditya Infotech IPO has been subscribed 101 times as of 7:00 p.m. on Thursday.
Qualified Institutions: 133.21 times.
Non-Institutional Buyers: 72 times.
Retail Investors: 50.87 times.
Portion reserved for employees: 8.50 times.
IPO GMP
The grey market premium for Aditya Infotech IPO rose to Rs 290 on July 31, according to InvestorGain. That implies a potential listing at around Rs 965 per share, indicating a 43% gain over the upper price band.
GMP or grey market price is not an official indicator and is based on market speculation.
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