Adisoft Technologies shares list at 19% premium over IPO price on NSE SME platform

Shares of Adisoft Technologies made a strong D-Street debut, listing at a 19% premium over their IPO price. The stock opened at Rs 205 apiece on the NSE SME platform as against the issue price of Rs 172. The listing defied unlisted market expectations, which had hinted at a muted debut. Shares of the company were seen trading at a grey market premium of 0%, pointing to a subdued listing outlook despite robust demand during the subscription period.

The Rs 74 crore SME IPO, priced at Rs 172 per share, saw strong investor interest, getting subscribed over 77 times overall, driven by heavy participation from institutional and high-net-worth investors.

Adisoft Technologies operates in the industrial automation space, providing digital automation solutions such as robotic work cells, material handling systems and customised assembly lines, primarily catering to automobile manufacturers and component suppliers. The company’s business model focuses on integrating shop-floor equipment with IT systems to improve efficiency and reduce manual intervention.


The company plans to utilise IPO proceeds largely towards capital expenditure for a new manufacturing facility, debt repayment and working capital needs. This indicates a clear intent to scale operations, particularly in a segment that is seeing rising adoption as manufacturing becomes increasingly automated.

Financially, the company has shown mixed trends. While profit after tax grew to Rs 16.1 crore in FY25 from Rs 11.8 crore a year earlier, revenue has been volatile, reflecting the project-based nature of the business.

The flat GMP came even as the broader SME segment has seen a mix of outcomes in recent months, with several issues witnessing strong subscription but limited listing gains. Market participants attribute this to elevated valuations and cautious sentiment amid global uncertainties, including geopolitical tensions and rising commodity prices.

Another factor weighing on listing expectations is the recent trend where institutional demand does not always translate into sustained secondary market performance, particularly in smaller issues with limited liquidity.

Despite the near-term listing outlook appearing subdued, the long-term prospects of the company will depend on its ability to scale operations, secure consistent order inflows and maintain margins in a competitive automation solutions market.