Latest News | Aditya Infotech IPO Gets Subscribed 100.69 Times
Get latest articles and stories on Latest News at LatestLY. The initial public offering (IPO) of Aditya Infotech Ltd, which offers video security and surveillance products under 'CP Plus' brand, received a whopping 100.69 times subscription on the closing day of bidding on Thursday.
New Delhi, Jul 31 (PTI) The initial public offering (IPO) of Aditya Infotech Ltd, which offers video security and surveillance products under 'CP Plus' brand, received a whopping 100.69 times subscription on the closing day of bidding on Thursday.
The Rs 1,300-crore initial share sale got bids for 1,13,00,92,216 shares against 1,12,23,759 shares on offer, as per data available with the NSE.
Qualified institutional buyers (QIBs) portion got subscribed a huge 133.21 times. Non-institutional investors quota received 72 times subscription and retail individual investors (RIIs) part received 50.87 times subscription.
The IPO of Aditya Infotech Ltd got fully subscribed within hours of opening for bidding on Tuesday.
Aditya Infotech on Monday raised over Rs 582 crore from anchor investors.
The IPO has 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 (OFS) 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 '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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)