Aditya Infotech Limited, the company behind CP PLUS, has grown into India’s leading surveillance technology brand over the past 17 years. Now, it has entered the capital market with a robust IPO worth ₹1300 crore, attracting major attention from institutional and retail investors alike. The IPO, which opened for subscription on 29 July 2025 and closed on 31 July 2025, saw a phenomenal subscription of 43.19 times, making it one of the most anticipated listings of the year.

Let’s dive into all the key aspects of the IPO and what makes Aditya Infotech Limited stand out.

IPO Structure and Details

The Aditya Infotech IPO is a Book Built Issue comprising a Fresh Issue of ₹500 crore (74.07 lakh shares) and an Offer for Sale worth ₹800 crore (118.51 lakh shares). The price band is fixed at ₹640 to ₹675 per equity share, and the IPO lot size is 22 shares. The minimum investment for retail investors is ₹14,850, while HNIs need to invest a minimum of ₹2,07,900 for 14 lots (308 shares).

With the upper-end pricing, the estimated market capitalisation stands at ₹7,911.89 crore.

The listing date is tentatively scheduled for August 5, 2025, on both BSE and NSE.

Anchor Investment and Institutional Backing

Ahead of the public subscription, Aditya Infotech raised ₹582.29 crore from Anchor Investors, indicating strong confidence from institutional participants. A total of 86.26 lakh shares were allotted to these investors at ₹675 per share.

This robust institutional participation adds credibility and support to the IPO's prospects in the secondary market.

Grey Market Premium and Listing Expectations

As of 25 July 2025, the Grey Market Premium (GMP) stood at ₹200, indicating an expected listing price of ₹875, which is 29.62% higher than the issue price. While GMP is not an official metric and trading in the grey market is unregulated, it does provide some directional sense of investor sentiment.

However, investors should understand that GMP is only indicative and not a reliable metric for final listing price due to its speculative and unofficial nature.

Allotment and Listing Timelines

The IPO allotment date is set for August 1, 2025, and investors can check their allotment status through the registrar MUFG Intime India Private Limited. The shares are expected to be credited to investors’ demat accounts before August 5, the tentative listing date.

Steps to check allotment status:

• Visit registrar website

• Select Aditya Infotech Limited IPO

• Enter PAN or Application Number or DP ID-Client ID

• Submit to view status

Use of IPO Proceeds

The net proceeds from the fresh issue of ₹500 crore will be utilised for:

1. Repayment or prepayment of borrowings worth ₹375 crore.

2. General corporate purposes including working capital and strategic initiatives.

This use of funds reflects a sound financial strategy focused on reducing debt and maintaining liquidity for business operations.

Business Overview and Market Presence

Aditya Infotech Limited (AIL) is widely recognised for its brand CP PLUS, offering the largest CCTV and security product portfolio in India. Their products and services cater to government, industrial, residential and commercial clients across the country.

With extensive presence across urban and rural markets, their surveillance products are deployed in nearly every vertical segment, from smart cities to infrastructure and corporate campuses.

Strong Leadership and Vision

The company is spearheaded by industry veterans:

• Aditya Khemka (Managing Director)

• Hari Shanker Khemka (Chairman and Whole-Time Director)

This leadership has been instrumental in expanding the business, developing cutting-edge products and strengthening its distribution networks across India.

They are supported by an experienced Board of Directors, committed to corporate governance, growth and customer-centric strategy.

Financial Performance and Key Metrics

Aditya Infotech has shown consistent financial growth over the past three fiscal years:

• Revenue from operations:

  • FY25: ₹31,229.26 million

  • FY24: ₹27,959.60 million

  • FY23: ₹22,955.56 million

• EBITDA:

  • FY25: ₹5,070.17 million

  • FY24: ₹2,112.41 million

  • FY23: ₹1,752.57 million

• Profit After Tax (PAT):

  • FY25: ₹3,513.69 million

  • FY24: ₹1,151.72 million

  • FY23: ₹1,083.11 million

These numbers showcase a healthy and growing bottom line, driven by improved margins, efficient cost control, and expanding market reach.

Valuation Ratios and Return Indicators

Here’s a breakdown of the key metrics:

• Pre-issue EPS (FY24): ₹33.02

• Post-issue EPS (FY24): ₹29.98

• Pre-issue P/E Ratio: 20.44x

• Post-issue P/E Ratio: 22.52x

• ROCE: 33.27%

• ROE & RoNW: 34.53%

These ratios indicate that the IPO is fairly priced, especially considering the sector’s average valuations and the company’s solid financial performance.

IPO Subscription Status

The IPO was oversubscribed by 43.19 times on the final day, a strong indicator of investor confidence. Both retail and institutional investors participated enthusiastically, further validating the company’s market positioning and future growth potential.

Should You Apply for Aditya Infotech IPO?

Given the following factors:

• Consistent revenue and profit growth

• Strong leadership

• Extensive product portfolio and pan-India presence

• Anchor investment support

• Reasonable valuations

• GMP of ₹200 indicating positive listing momentum

… the Aditya Infotech IPO appears to be a strong candidate for listing gains. Long-term investors may also consider it for portfolio diversification in the security and surveillance technology sector.

However, always consider your risk appetite, financial goals, and consult a financial advisor before investing.

Conclusion

Aditya Infotech’s IPO debut reflects solid fundamentals, strong demand, and promising growth in India’s security and surveillance market. With a subscription of over 43 times, a high GMP, and strong financials, the listing is likely to reward investors with decent listing gains. Backed by visionary leadership, market dominance, and innovation, Aditya Infotech could emerge as a long-term player to watch out for in the tech-driven security space.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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