CP Plus brand owner Aditya Infotech sets IPO price band at ₹640–₹675 per share; issue opens July 29

Aditya Infotech, which offers video security and surveillance products under 'CP Plus' brand, is aiming to raise ₹1,300 crore through its Initial Public Offering (IPO) opening for subscription on July 29.

The issue, with a price band of ₹640 to ₹675 per share, will conclude on July 31, the company announced.

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

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

As of March 2024, the company's total borrowings stood at around ₹405 crore, according to its draft papers.

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

The company announced that 75 per cent of the offer size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per for retail investors.

ICICI Securities and IIFL Securities are the book-running lead managers to the issue. Aditya Infotech is expected to list on the bourses on August 5.