CP Plus owner Aditya Infotech's shares climb nearly 61 pc in debut trade

Shares of Aditya Infotech, which offers video security and surveillance products under the 'CP Plus' brand, on Tuesday ended with a premium of nearly 61 per cent against the issue prices of Rs 675.

The company's stock started trading at Rs 1,015 apiece, a jump of 50.37 per cent from the issue price on the NSE. In the intraday session, it surged 63.55 per cent to hit a high of Rs 1,104. Shares of the firm later ended at Rs 1,085, up 60.74 per cent.

On the BSE, it surged 50.81 per cent to Rs 1,018 in the initial trade. The stock rallied 60.61 per cent to close at Rs 1,084.10 per piece.

At the end of the trading session, the company's market valuation stood at Rs 12,718.57 crore on the NSE. In volume terms, 1.97 crore equity shares were traded on the NSE and 19.05 lakh shares on the BSE during the day.

The Rs 1,300-crore initial public offering (IPO) of Aditya Infotech received a whopping 100.69 times subscription on the closing day of bidding on Thursday.

Last week, Aditya Infotech said it had raised over Rs 582 crore from anchor investors, ahead of the IPO.

The initial share sale had a price band of Rs 640-675 per share.

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.

Proceeds from the fresh issue to the tune of Rs 375 crore have been earmarked for payment of debt, while a portion will be used for general corporate purposes.

Aditya Infotech offers a comprehensive range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under the 'CP Plus' brand.

In addition, the company offers solutions and services such as fully integrated security systems and security-as-a-service directly and through its distribution network.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)