Aditya Infotech's India IPO price band set at INR640-675/share

Aditya Infotech's India IPO price band set at INR640-675/share

Aditya Infotech Ltd has set a price band of Rs 640-675 per equity share for its initial public offering (IPO), which opens for subscription on July 29 and closes on July 31. The anchor book will open a day earlier, on July 28. The company aims to raise around Rs 1,300 crore through the IPO, comprising a fresh issue of Rs 500 crore and an offer for sale of Rs 800 crore by existing promoters and shareholders [1].

Of the fresh issue proceeds, Rs 375 crore has been earmarked for debt repayment, with the remaining amount allocated towards general corporate purposes. As of March 2024, the company’s total borrowings stood at Rs 405.45 crore, according to its draft prospectus filed on Monday. The basis of allotment is scheduled for August 1, while equity shares will be credited and refunds processed on August 4. The company’s stock is expected to list on the exchanges on August 5. Aditya Infotech is a leading provider of advanced video security and surveillance products under the 'CP PLUS' brand, catering to both enterprise and consumer segments. The company also offers integrated security solutions and security-as-a-service through direct channels and a wide distribution network [1].

The IPO is being led by ICICI Securities and IIFL Securities as the book running lead managers. The company’s strong financial performance and market position in the security sector are likely to attract investors [1].

References:
[1] https://www.moneycontrol.com/news/business/ipo/aditya-infotech-sets-price-band-of-rs-640-675-a-share-for-ipo-13317604.html