Aditya Infotech Ltd.'s initial public offering was fully subscribed on the first day of bidding on Tuesday, led by demand from retail and non-institutional investors.
The company, which provides advanced video security and surveillance products, technologies, and solutions, has fixed the price band in the range of Rs 640 to Rs 675 per share.
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.
About Rs 375 crore of the IPO proceeds will be used by Aditya Infotech for repaying its outstanding borrowings. The remaining portion of the funds 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.
ICICI Securities Ltd., IIFL Capital Services Ltd. are the book-running lead managers for the public issue.
IPO Details
Issue opens: 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 One
The Aditya Infotech IPO has been subscribed 1.14 times as of 1.50 p.m. on Tuesday.
Qualified Institutions: 0.01 times or 1%.
Non-Institutional Buyers: 1.55 times.
Retail Investors: 3.93 times.
Portion reserved for employees: 0.81 times or 81%.
IPO GMP
The grey market premium for Aditya Infotech IPO rose to Rs 260, as of 12 p.m. on July 29, according to InvestorGain. That implies a potential premium listing at around Rs 935 per share, indicating a 38% 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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