Aditya Infotech IPO (CP Plus) on Day 02 of its bidding has been subscribed to a total of 4 times. There’s a strong interest from the retail participants, subscribing to the issue 12.89 times, so far. The NII booked the IPO over 6 times, and the Qualified Institutional Buyers (QIBs) are yet to jump into the party.
The company wants to raise Rs 1,300 crores. The issue is a combination of fresh issue of 0.74 crore shares totalling to Rs 500 crore and an offer for sale of 1.19 crore shares aggregating to Rs 800 crore. It has already been subscribed to over 2 times at the end of Day 1.
Aditya Infotech IPO: Key dates
The bidding opened for subscription on July 29 and will close on July 31. The allotment for the Aditya Infotech IPO is expected to be finalised on August 1. The IPO will be listed on BSE and NSE, with a tentative listing date fixed as August 5.
Aditya Infotech IPO: Price band
The IPO price band is set at Rs 640 to Rs 675 per equity share. The lot size for a retail application is 22, which totals to Rs 14,080. The lot size investment for small NIIs is 14 lots of 308 shares, amounting to Rs 2 lakh, and for big NIIs, it is 68 lots of 1,496 shares, aggregating to Rs 10 lakh.
Aditya Infotech IPO: Employee reservation
The issue includes a reservation of up to 97,561 shares for employees, which is offered at a discount of Rs 60 to the issue price.
Aditya Infotech IPO: Objectives of the issue
Aditya Infotech will be utilising these net proceeds from the issue for the payment of certain outstanding borrowings availed by the company, and some part of the raised funds will be used for general corporate purposes.
Aditya Infotech IPO: Book manager and registrar
ICICI Securities is the book-running lead manager of the IPO, while MUFG Intime India Pvt. Ltd. (Link Intime) is the registrar for the issue.
About Aditya Infotech
Aditya Infotech, which operates the brand CP Plus, manufactures and provides video security and surveillance products, solutions and services. The company offers a diverse range of products, including smart home IoT cameras, HD analogue systems, advanced network cameras, body-worn and thermal cameras, as well as long-range IR cameras, and AI-powered solutions (automatic number plate recognition, people counting, and heat mapping).