New Delhi, Jul 30 (PTI) The IPO of Aditya Infotech Ltd, which offers video security and surveillance products under 'CP Plus' brand, fetched 6.87 times subscription on the day two of bidding on Wednesday.

The initial public offer (IPO) received bids for 7,71,16,314 shares against 1,12,23,759 shares on offer, according to NSE data.

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The portion for Retail Individual Investors (RIIs) got subscribed 20.06 times while the quota for non-institutional investors received 11.45 times subscription. Qualified Institutional Buyers (QIBs) category got 24 per cent subscription.

The initial public offer of Aditya Infotech Ltd got fully subscribed within hours of opening for bidding on Tuesday.

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

The Rs 1,300-crore IPO will conclude on Thursday. 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 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)