CP Plus owner Aditya Infotech shares close with 61% rally in debut trade

Aditya Infotech shares rally

Shares of Aditya Infotech, which offers video security and surveillance products under the 'CP Plus' brand, on August 5 ended with a premium of nearly 61 percent against the issue prices of Rs 675.

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

On the BSE, it surged 50.81 percent to Rs 1,018 in the initial trade. The stock rallied 60.61 percent 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.

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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 July 31.

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.