Aditya Infotech IPO gets subscribed over 100 times on day 3 of offer, QIB portion booked 133x

Aditya Infotech IPO gets subscribed over 18 times on day 3 of offer, retail portion booked 32.5x

The initial public offer of Aditya Infotech Ltd, which offers video security and surveillance products under 'CP Plus' brand, got subscribed 100.69 times on third day of bidding on July 31.

The three-day initial share sale received bids for 1,13,00,92,216 shares against 1,12,23,759 shares on offer, translating into 100.69 times subscription, according to data available with the NSE.

Retail Individual Investors (RIIs) part fetched 50.87 times subscription while the quota for non-institutional investors got subscribed 72 times. The Qualified Institutional Buyers (QIBs) portion received 133.2x subscription. The employee portion got booked 8.5 times.

Aditya Infotech on Monday raised over Rs 582 crore from anchor investors.

The Rs 1,300-crore initial public offering (IPO) will conclude on July 31. The price band has been fixed at 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 (OFS) of shares valued at Rs 800 crore by promoters.

Proceeds from the fresh 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 '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.

ICICI Securities and IIFL Capital Services are the book-running lead managers to the issue.