Aditya Infotech Limited IPO – In-Depth Analysis & Investment View
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Blogs / IPO Note / Aditya Infotech Limited IPO – In-Depth Analysis & Investment View
By Sushil Finance
28 July 2025 • 7 MINUTES READ
AdityaInfotech

Aditya Infotech Limited IPO – In-Depth Analysis & Investment View

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IPO Details

bulleticonIssue Opening Date: July 29, 2025
bulleticonIssue Closing Date: July 31, 2025
bulleticonIssue Size: ₹1,300 Cr (@ upper price band of ₹675)
bulleticonFresh Issue: ₹500 Cr
bulleticonOffer for Sale (OFS): ₹800 Cr
bulleticonPrice Band: ₹640 to ₹675 per Equity Share
bulleticonEmployee Discount: ₹60 per share
bulleticonLot Size: 22 Shares and multiples thereafter
bulleticonMinimum Application Amount: ₹14,850 (22 Shares)
bulleticonMaximum Application Amount: ₹193,050 (286 Shares)
bulleticonSmall HNI: ₹2,07,900 (308 Shares)
bulleticonBig 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

  1. Largest Indian player in the growing security and surveillance market with strong brand recall
  2. Extensive pan-India distribution and service network
  3. Full-spectrum product portfolio with end-to-end security solutions
  4. Strong focus on R&D and quality in manufacturing
  5. Robust partnerships and sourcing capabilities

Objects of the Issue

bulleticonPrepayment/repayment of certain borrowings: ₹375 Cr
bulleticonGeneral corporate purposes
bulleticonNote: 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:

bulleticonHigh competition
bulleticonDependence on select suppliers
bulleticonGeopolitical and import regulation exposure
bulleticonDependency on key partners like Dixon
bulleticonMaintaining quality while scaling


Financial Snapshot

From FY23 to FY25:

bulleticonRevenue Growth CAGR: 16.71%
bulleticonEBITDA Growth CAGR: 19.47%
bulleticonPAT Growth CAGR: 80.11%
bulleticonEBITDA Margin: 8.27%
bulleticonROE: 34.53% | ROCE: 33.27%
bulleticonDebt to Equity Ratio: 0.41x
bulleticonP/BV: 7.06 (NAV of ₹95.64)
bulleticonAsking 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

For more details, Please refer RHP,
(https://nsearchives.nseindia.com/content/ipo/RHP_CPPLUS.zip)


Disclaimer:
The content provided in this blog is for informational and educational purposes only and should not be construed as investment, legal, tax or any other advice. While Sushil Finance makes reasonable efforts to ensure accuracy and reliability of the information, we do not guarantee its correctness, completeness or timeliness. Readers are advised to consult 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 the content presented herein.
Investments in securities are subject to market risks. Read all scheme-related documents carefully before investing.


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