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Time of India

Aditya Infotech IPO subscribed 78% on Day 1; should you apply? Check GMP, review, and more

Aditya Infotech 's Rs 1,300 crore Initial Public Offering (IPO) opened for subscription today, July 29. On the opening day of bidding, the IPO saw an overall subscription of 78%, driven by robust interest from retail investors , whose portion was subscribed 2.81 times. The company has set a price band of Rs 640 to Rs 675 per share. The IPO is a purely fresh issue, consisting of 1.93 crore equity shares. In the grey market, the IPO is commanding a premium that suggests a potential listing gain of around 38.5%. Aditya Infotech IPO subscription status 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). Explore courses from Top Institutes in Please select course: Select a Course Category Others Data Science Technology Operations Management Product Management Design Thinking Leadership Data Science Data Analytics Healthcare Public Policy Management Digital Marketing Project Management Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details 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. Aditya Infotech IPO GMP today 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. Business overview and financials 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. 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. Aditya Infotech IPO valuation and recommendation 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.