Aditya Infotech Ltd. has filed its preliminary papers for an initial public offering with the Securities and Exchange Board of India to raise up to Rs 1,300 crore.
The public offer will include a fresh issue of shares worth Rs 500 crore as well as an offer for sale for Rs 800 crore, according to the draft red herring prospectus.
Aditya Khemka will be offloading stake in the capacity of a promoter as well as part of the the promoter group. In addition, Ananmay Khemka (as a promoter), Rishi Khemka, Hari Shankar Khemka and Shradha Khemka will also be offloading stake.
The book-running lead managers for Aditya Infotech's IPO are ICICI Securities Ltd. and IIFL Securities Ltd. These firms are responsible for managing the public offering process and ensuring that it meets regulatory requirements.
Aditya Infotech proposes to utilise the net proceeds from the fresh issue for prepayment and/or repayment of borrowings. The remaining proceeds will be allocated for general corporate activities, which may include various operational and strategic initiatives.
The company anticipates that listing its equity shares on the stock exchanges will enhance its visibility and brand image among current and potential customers, as well as create a public market for its shares in India.
These objectives align with the main activities outlined in the company's Memorandum of Association, ensuring that the funds raised will support both existing business operations and new initiatives.
Part of the video security and surveillance industry, Aditya Infotech held 20.2% market share in terms of revenue for fiscal 2024. The company offers a range of advanced video security products, technologies, and solutions under its CP Plus brand.
The company provides solutions and services, including fully integrated security systems and Security-as-a-Service, catering to various sectors such as banking, insurance, real estate, healthcare, industrial, defence, education, hospitality, manufacturing, retail, and law enforcement.
Since the launch of the CP Plus brand in 2014, Aditya Infotech has aimed to make cost-effective security solutions more accessible, the company said.
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