Aditya Infotech IPO subscribed 78% on Day 1; should you apply? Check GMP, review, and more
ADVERTISEMENT On the first day of bidding, the IPO received an overall subscription of 78% for the 1.12 crore shares offered to the public. The retail investor portion saw strong interest, being subscribed 2.81 times, while the Non-Institutional Investor (NII) category was subscribed 1.5 times. However, no bids have been recorded yet from Qualified Institutional Buyers (QIBs).
The IPO, which opened on July 29, will close on July 31. It is tentatively scheduled to be listed on August 5, 2025, on both the BSE and NSE.
The grey market premium (GMP) for the IPO is approximately Rs 260 over the issue price of Rs 675, indicating that shares are trading unofficially at around Rs 935 ahead of listing. This reflects an estimated listing premium of about 38.5%, suggesting strong investor sentiment and expectations of a solid debut on the stock exchanges. The GMP serves as an informal indicator of market demand before the shares are officially listed.
Aditya Infotech is a leading value-added distributor (VAD) in India for electronic security equipment. The company partners with global brands like Dahua, Seagate, TP-Link, Panasonic, and others, distributing across 650+ cities with over 15,000 channel partners.Its portfolio includes video surveillance products, access control systems, and networking solutions—catering to government, corporates, and SMEs.
ADVERTISEMENT Between FY22 and FY24, the company's revenue grew at a CAGR of 24%, from Rs 2,090 crore to Rs 3,212 crore. PAT grew from Rs 102 crore in FY22 to Rs 210 crore in FY24.EBITDA margins improved slightly from 9.6% to 10.7% over the same period. However, analysts note that the business remains working capital intensive and exposed to global supply chain risks.
ADVERTISEMENT At the upper price band of Rs 675, Aditya Infotech is valued at a P/E of 36.2x on FY24 earnings, which is at a premium to industry peers like Redington and Ingram Micro. The IPO aims to raise funds primarily for working capital needs (Rs 600 crore), with the rest for general corporate purposes.
Brokerage firm Bajaj Broking has rated the IPO as 'Subscribe with Caution'. While acknowledging the company's strong brand partnerships, consistent growth, and deep distribution network, the note flags its high valuation and moderate return ratios (RoE 22%, RoCE 20%) as concerns.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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