Adisoft Technologies IPO fully subscribed on Day 1: Check price band and lot size

Adisoft Technologies IPO: The initial public offering of industrial digital automation solutions provider Adisoft Technologies was fully subscribed on the first day of bidding on Thursday, April 23.

It secured bids for 37,32,800 shares as against 30,82,400 shares on offer, according to the data on the National Stock Exchange (NSE) website until 12:57 pm.

The ₹74.10 crore initial share sale is solely a fresh issuance of 43.08 lakh shares, with no offer for sale component.

The funds generated will be utilised for the following objectives:

• Repayment of borrowing availed by the company
• Funding capital expenditure needs to establish a new factory unit
• Working capital requirements
• Corporate general purposes

Adisoft Technologies IPO: Price band and lot size

The company has set a price band of ₹163 to ₹172 per share. A lot consists of 800 shares. Individual investors can apply for a minimum of 1,600 shares.

Adisoft Technologies IPO: Allotment date and time

Adisoft Technologies is an industrial digital automation solutions provider involved in designing, developing, procuring, assembling, installing, testing, commissioning and providing engineering services related to material handling machines, automated assembly lines, robotic work cells and special purpose machinery to address customer-specific operational requirements.

It offers customised automation solutions mainly to automobile manufacturers, automotive OEMs and component makers that need establishment, expansion, upgradation, modification, repair or reconfiguration of existing production lines or operational set-up.

Hem Securities is the issue's book-running lead manager, while KFin Technologies is the registrar. The company's shares will be listed on the SME platform of NSE, Emerge.