Aditya Infotech IPO subscribed over 100 times as on final day. Check GMP, review, and other details

Aditya Infotech’s Rs 1,300 crore initial public offering (IPO) was subscribed 100.69 times by the third and final day of the subscription period on July 31. This strong demand was primarily driven by Qualified Institutional Buyers(QIBs) with significant action seen in retail and non-institutional investors (NIIs) portion as well. In the grey market, the shares are trading at a premium, hinting at a potential listing gain of about 43% over the issue price of Rs 675.

The company has set the IPO price band between Rs 640 and Rs 675 per share. The issue involves the sale of 1.93 crore new equity shares, meaning the company is raising fresh capital by offering newly issued shares to the public.

Aditya Infotech IPO Subscription Update

On the final day of subscription, the IPO received an overall subscription of 100.69 times for the 1.12 crore shares offered to the public. Retail investors showed strong enthusiasm, with their portion subscribed 50.87 times, while non-institutional investors (NIIs) subscribed 72.00 times. The QIBs portion was booked 133.21 times.


Aditya Infotech’s shares are expected to be listed on both BSE and NSE on August 5.

Aditya Infotech IPO GMP Today

The grey market premium (GMP) for the IPO stands at roughly Rs 290 above the issue price of Rs 675, suggesting that the shares are unofficially trading around Rs 965 ahead of their market debut. This implies a potential listing gain of about 42%, reflecting strong investor confidence and positive market sentiment. While unofficial, the GMP offers an early indication of demand and expected performance before the official listing.

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 through over 15,000 channel partners.

Its portfolio includes video surveillance products, access control systems, and networking solutions—catering to government clients, corporates, and SMEs.

Between FY22 and FY24, the company’s revenue grew at a CAGR of 24%, rising from Rs 2,090 crore to Rs 3,212 crore. Profit after tax (PAT) more than doubled from Rs 102 crore in FY22 to Rs 210 crore in FY24.

EBITDA margins improved modestly 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—at a premium compared to industry peers such as Redington and Ingram Micro. The IPO aims to raise funds primarily for working capital requirements (Rs 600 crore), with the remainder allocated to 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 wide distribution network, the note flags its high valuation and moderate return ratios (RoE of 22% and RoCE of 20%) as potential concerns.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)