CCTV and video surveillance provider Aditya Infotech Ltd., on Thursday set the price for its upcoming initial public offering aiming to raise Rs 1,300 crore. The shares will be offered for bidding in the price band of Rs 640 to Rs 675 per share.
The company that sells products under 'CP Plus' brand, will open for subscription on July 29 and conclude on July 31.
The company's IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale of shares valued at Rs 800 crore by promoters.
The company announced that 75% of the offer size has been reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors.
ICICI Securities and IIFL Securities are the book-running lead managers to the issue. Aditya Infotech is expected to list on the bourses on August 5.
Proceeds from the fresh issue to the tune of Rs 375 crore have been earmarked for payment of debt, and besides, a portion will be used for general corporate purposes.
About Aditya Infotech
Aditya Infotech offers a comprehensive range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under '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.
As of March 2024, the company's total borrowings stood at around Rs 405 crore, according to its draft papers.
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.
(With inputs from PTI.)
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