Aditya Infotech Shares Jump 53% on Debut

New Delhi, Aug 5 (PTI) Shares of Aditya Infotech, which offers video security and surveillance products under the 'CP Plus' brand, on Tuesday listed with a premium of 53 per cent against the issue price of Rs 675.

The company's stock is listed at Rs 1,015 apiece, a jump of 50.37 per cent from the issue price on the NSE. Later, it rose by 52.73 per cent to trade at Rs 1,032 on the exchange.

On the BSE, it surged 50.81 per cent to Rs 1,018 in the initial trade. Later, it rallied 53.34 per cent to trade at Rs 1,035.05 apiece.

The company's market valuation stood at Rs 12,180.53 crore on the BSE.

Meanwhile, the market is trading in the negative territory. The 30-share BSE Sensex declined 377.10 points or 0.47 per cent to trade at 80,641.62, and the NSE Nifty fell 102.80 points or 0.42 per cent to 24,619.95.

The Rs 1,300 crore Initial Public Offer (IPO) of Aditya Infotech received a whopping 100.69 times subscription on the closing day of bidding on Thursday.

Last week, Aditya Infotech said it had raised over Rs 582 crore from anchor investors, ahead of the IPO.

The initial share sale had a price band of Rs 640-675 per share.

The company's IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of shares valued at Rs 800 crore by promoters.

Proceeds from the fresh issue to the tune of Rs 375 crore have been earmarked for payment of debt, while a portion will be used for general corporate purposes.

Aditya Infotech offers a comprehensive range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under the 'CP Plus' brand.

In addition, the company offers solutions and services such as fully integrated security systems and security-as-a-service directly and through its distribution network.