IPO Details
Issue Opening Date: July 29, 2025
Issue Closing Date: July 31, 2025
Issue Size: ₹1,300 Cr (@ upper price band of ₹675)
Fresh Issue: ₹500 Cr
Offer for Sale (OFS): ₹800 Cr
Price Band: ₹640 to ₹675 per Equity Share
Employee Discount: ₹60 per share
Lot Size: 22 Shares and multiples thereafter
Minimum Application Amount: ₹14,850 (22 Shares)
Maximum Application Amount: ₹193,050 (286 Shares)
Small HNI: ₹2,07,900 (308 Shares)
Big HNI: ₹10,09,800 (1,496 Shares)
Company Overview
Aditya Infotech offers a wide range of advanced video security and surveillance products under the well-known ‘CP PLUS’ brand. These solutions cater to both enterprise and consumer segments across sectors like banking, healthcare, hospitality, manufacturing, real estate, and law enforcement.
Their business operations span manufacturing, trading, and integrated solutions that utilize in-house developed AI and ML-powered analytics. As of FY25, they offered nearly 3,000 SKUs and served 550+ Indian cities via a robust distribution network and 10 strategically located warehouses.
Notably, they’ve partnered with Dahua Technology and entered a joint venture with Dixon Technologies (India) in 2017 to bolster manufacturing capabilities.
Highlights
- Largest Indian player in the growing security and surveillance market with strong brand recall
- Extensive pan-India distribution and service network
- Full-spectrum product portfolio with end-to-end security solutions
- Strong focus on R&D and quality in manufacturing
- Robust partnerships and sourcing capabilities
Objects of the Issue
Prepayment/repayment of certain borrowings: ₹375 Cr
General corporate purposes
Note: Proceeds from the Offer for Sale (₹800 Cr) will not go to the company
Our View
Established in 1995, Aditya Infotech has evolved into a leader in the video surveillance domain. Its wide pan-India reach, robust product offerings, and brand resonance (“Uparwala Sab Dekh Raha Hai”) stand out in a highly competitive sector.
The growing push for domestic electronics manufacturing through ‘Make in India’ initiatives positions the company for greater growth. Their business streams are synergized to meet various client needs, enhancing scalability and resilience.
However, potential investors should consider risks such as:
High competition
Dependence on select suppliers
Geopolitical and import regulation exposure
Dependency on key partners like Dixon
Maintaining quality while scaling
Financial Snapshot
From FY23 to FY25:
Revenue Growth CAGR: 16.71%
EBITDA Growth CAGR: 19.47%
PAT Growth CAGR: 80.11%
EBITDA Margin: 8.27%
ROE: 34.53% | ROCE: 33.27%
Debt to Equity Ratio: 0.41x
P/BV: 7.06 (NAV of ₹95.64)
Asking P/E: ~21x
These figures reflect consistent and profitable performance, suggesting strong fundamentals and long-term scalability.
Conclusion
The IPO of Aditya Infotech looks attractively priced, supported by healthy financials, brand value, scalable business, and sectoral tailwinds. Investors looking at long-term value creation may consider subscribing to this IPO.
Our Recommendation: Subscribe for Long Term Horizon
Brief Financials
| PARTICULARS |
₹ in Million |
| FY ‘25 |
FY ’24 |
FY ‘23 |
| Total Income |
31,229.26 |
27,959.60 |
22,955.56 |
| Total Expenditure |
29,374.74 |
26,061.05 |
21,560.74 |
| EBITDA |
2,583.87 |
2,364.77 |
1,810.45 |
| Profit before Tax |
4,340.82 |
1,646.19 |
1,431.82 |
| Profit after Tax |
3,513.69 |
1,151.72 |
1,083.11 |
| E.P.S. (Diluted) |
33.02 |
11.24 |
10.57 |
| P/E (x) (Diluted) |
21 |
- |
- |
| RONW (%) |
34.53 |
27.15 |
34.76 |
PRICE CHART (@ ₹ 675) (Retail Category)
| LOT SIZE |
| Amount |
| 22 |
14,850 |
| 44 |
29,700 |
| 66 |
44,550 |
| 88 |
59,400 |
| 110 |
74,250 |
| 132 |
89,100 |
| 154 |
103,950 |
| 176 |
118,800 |
| 198 |
133,650 |
| 220 |
148,500 |
| 242 |
163,350 |
| 264 |
178,200 |
| 286 |
193,050 |
HNI Payment Chart
| Category |
| No. of Shares |
Minimum Bid Lot Amount (Rs.) |
| Small HNI |
308 |
207,900 |
| Big HNI |
1,496 |
1,009,800 |
Indicative Time Table
| Tentative Events |
| Indicative Dates |
| Finalisation of Basis of Allotment with the Designated Stock Exchange |
1/8/2025 |
| Initiation of refunds/unblocking ASBA Fund |
4/8/2025 |
| Credit of Equity Shares to demat accounts of Allottees |
4/8/2025 |
| Commencement of trading of the Equity Shares on the Stock Exchanges |
5/8/2025 |
Disclaimer:
The content provided in this blog is for informational and educational purposes only and should not be construed as investment, legal, or tax advice. While Sushil Finance makes reasonable efforts to ensure accuracy and reliability of the information, we do not guarantee its completeness or timeliness. Readers are advised to consult with their financial advisor before making any investment decisions. Sushil Finance shall not be held responsible for any direct or indirect loss arising from use of this content. Investments in securities are subject to market risks. Read all scheme-related documents carefully before investing.
