Aditya Infotech IPO Fully Subscribed on Day 1; GMP Surges 38% – Should You Invest?

The ₹1,300-crore Initial Public Offering (IPO) of Aditya Infotech, a leading Indian player in CCTV and security product manufacturing, has been fully subscribed on Day 1 of its bidding process, with retail investors driving strong interest.

IPO Subscription Status (as of 1:32 PM)

Total bids received: 1.14 crore shares
Issue size: 1.12 crore shares
Retail investor portion: Subscribed 3.5x
Non-Institutional Investors (NIIs): Fully subscribed
Qualified Institutional Buyers (QIBs): 1% subscribed

IPO Details

Issue Size: ₹1,300 crore
- Fresh Issue: ₹500 crore
- Offer-for-Sale (OFS) by promoters (Khemka family): ₹800 crore
Price Band: ₹640–₹675 per share
Lot Size: 22 shares (₹14,850 minimum investment)
Bidding Window: July 29–31, 2025
Allotment Date: August 1, 2025
Expected Listing: August 5, 2025

Grey Market Premium (GMP)

The IPO is seeing significant interest in the unlisted space, with a GMP of ₹200–₹260, translating to a premium of up to 38% over the upper price band.

Investorgain GMP: ₹935/share (38% premium)
IPO Watch GMP: ₹905/share (34% premium)

Should You Subscribe? What Analysts Say

Bajaj Broking and Anand Rathi both recommend a “Subscribe for long-term” stance.

“Aditya Infotech is a market leader in India’s growing video surveillance industry with a strong brand presence and consistent profitability,” said Bajaj Broking.

Anand Rathi highlighted valuation concerns but backed the firm’s dominance:

“At ₹675, the IPO is priced at 22.5x FY25 projected earnings. The business has a robust revenue and profit trajectory with limited domestic competition.”

However, INVasset PMS analyst Jickson Sajee offered a measured view:

“Despite the ₹200+ GMP, future valuation will depend on market execution and infrastructure demand.”

Anchor Investment Ahead of IPO

On July 28, Aditya Infotech raised ₹582.3 crore from anchor investors at ₹675/share, allocating 86.26 lakh equity shares.
Notable institutional participants included: