Aditya Infotech's IPO Skyrockets with Massive Subscription

Aditya Infotech Ltd has taken the market by storm with its initial public offering (IPO) that was subscribed a staggering 100.69 times as bidding closed on Thursday. Known for its 'CP Plus' brand of video security products, the company attracted massive interest from various investor categories.

The Rs 1,300-crore IPO received an enthusiastic response, with bids for over 1.13 billion shares against the 11.22 million on offer, as reported by the NSE. Qualified institutional buyers led the charge with a 133.21 times subscription, followed by non-institutional investors and retail investors, who subscribed 72 times and 50.87 times, respectively.

Aditya Infotech, which raised Rs 582 crore from anchor investors, aims to use proceeds both for debt repayment and general corporate purposes. The IPO, featuring shares at a price band of Rs 640-675, includes a fresh equity issue of Rs 500 crore and an offer for sale worth Rs 800 crore. ICICI Securities and IIFL Capital Services were appointed as the book running lead managers for the issue.

(With inputs from agencies.)