Aditya Infotech Ltd. made a blockbuster debut on the stock market, listing at a premium over 50% on exchanges on Tuesday. The scrip started trading at Rs 1,015 apiece on the NSE and Rs 1,018 on the BSE. The IPO price was Rs 675 apiece.
Its 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 IPO opened on July 31 and concluded on Aug 1.
The Rs 1,300-crore IPO comprised 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.
The company provides advanced video security and surveillance products, technologies, and solutions. Aditya Infotech will use proceeds to repay its outstanding borrowings. The remaining portion will be used for other general corporate purposes.
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