Aditya Infotech IPO to open on July 29; check price band, issue size and more

Aditya Infotech has announced its initial public offering (IPO), with shares priced between Rs 640 and Rs 675 each. The subscription period runs from July 29 to July 31, with the anchor book opening on July 28.

This IPO aims to raise approximately Rs 1,300 crore, including a fresh issue of Rs 500 crore and an offer for sale by existing stakeholders worth Rs 800 crore. ICICI Securities and IIFL Securities are the lead managers, with MUFG Intime India as the registrar.

The fresh issue will enable the company to repay Rs 375 crore of its debt, and the remainder will be used for general corporate purposes. As of March 2024, Aditya Infotech had total borrowings of Rs 405.45 crore. The basis of allotment is set for August 1, with refunds and share credits expected by August 4. The shares are anticipated to be listed on stock exchanges on August 5.

Aditya Infotech, under the brand 'CP Plus', provides video security and surveillance products. Its range includes smart home IoT cameras, HD analog systems, and advanced network cameras. They also offer AI-powered solutions and security-as-a-service through a broad distribution network, catering to both enterprise and consumer segments.

The company, known for its 'CP PLUS' brand, seeks to use this IPO to boost its market position within a competitive landscape. The funds will support its growth strategy and improve financial health, enhancing its standing in the security solutions sector.