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  5. IPO Wrap, July 31: NSDL offer booked 5x, Aditya Infotech over 100x; check all other subscriptions updates

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IPO Wrap, July 31: NSDL offer booked 5x, Aditya Infotech over 100x; check all other subscriptions updates

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By Ahana Chatterjee

5 min read | Updated on July 31, 2025, 18:59 IST

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SUMMARY

Two mainboard IPOs—Aditya Infotech and Laxmi India Finance—closed their subscription on Thursday, and three other IPOs that are open include National Securities Depository Limited (NSDL), M&B Engineering, and Sri Lotus Developers and Realty

The ₹650-crore IPO of M&B Engineering was fully subscribed on the second day with a total subscription of 2.9 times. | Image: Shutterstock

The ₹650-crore IPO of M&B Engineering was fully subscribed on the second day with a total subscription of 2.9 times. | Image: Shutterstock

The primary market witnessed a busy day on Thursday, July 31, with five active mainboard initial public offerings (IPOs).

Two mainboard IPOs—Aditya Infotech and Laxmi India Finance—closed their subscription on Thursday, and three other IPOs that are open include National Securities Depository Limited (NSDL), M&B Engineering, and Sri Lotus Developers and Realty.

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Meanwhile, two new SME IPOs, Cash Ur Drive Marketing and Renol Polychem, opened for subscription, while Kaytex Fabrics closed after three days of bidding on Thursday.

Here’s a look at the IPO market on Thursday:

National Securities Depository Limited (NSDL)
The initial public offering of National Securities Depository Limited (NSDL) continued to witness a good response on the second day of bidding, as the issue was booked 5.03 times on Thursday, July 31.

Till 5 PM, the ₹4,011 crore initial share sale received bids for 176,516,388 shares against 35,127,002 shares on offer, as per exchange data.

The category for Retail Individual Investors (RIIs) fetched 4.17 times subscription, while the quota for non-institutional investors received 11.08 times subscription. The portion for Qualified Institutional Buyers (QIBs) witnessed 1.96 times of booking.

The initial public offering (IPO) of up to 6,708,000 equity shares has a price range of ₹205-216 per share. The price range has been fixed at ₹760 to ₹800 per share. The company's shares will hit the secondary market on August 6.

Also read: NSDL vs CDSL: Which depository leads on revenue, market share and growth ahead of NSDL IPO?
Sri Lotus Developers
The issue of Sri Lotus Developers saw a decent investors’ interest on Thursday. The public issue of the residential and commercial project developer was booked 10.34 times on Day 2.

The ₹792 crore IPO received bids for over 40,992,010,000 shares against 39,658,730,000shares. On the second day of bidding, the retail portion of the IPO was booked 8.89 times as of 5 PM.

The NIIs also showed the highest interest in IPO, as their quote was booked 15.95 times. The QIBs’ quota was booked 8.69 times by the end of the second day.

Sri Lotus Developers IPO, a book-built offer worth ₹792 crore, is a completely fresh issue of over 5.28 crore shares, amounting to ₹792 crore. Sri Lotus Developers IPO issue price was fixed at ₹140 to ₹150 per share. The minimum lot size for the issue is 100 shares, aggregating to an investment of ₹15,000 per lot.

M&B Engineering
The ₹650-crore initial public offering of M&B Engineering was fully subscribed on the second day with a total subscription of 2.9 times. It had received 28,379,046 bids against 9,798,309 reserved shares.

The category for non-institutional investors attracted 4.26 times the subscription, while the quota for retail individual investors (RIIs) was booked 9.46 times. The portion booked for QIBs saw a subscription of 0.02x.

The issue, with a price band of ₹366 to ₹385, will conclude on August 1. At the upper end of the price band, the Gujarat-based company's market capitalisation is estimated at ₹2,200 crore.

The IPO is a mix of a fresh issue of equity shares worth ₹275 crore and an offer-for-sale (OFS) of ₹375 crore by promoters. Proceeds from the fresh issue will be used for purchasing equipment and machinery for the company's manufacturing facilities, payment of debt, working capital requirements, and general corporate purposes.

M&B Engineering is one of the country's leading Pre-Engineered Buildings (PEB) and Self-Supported Roofing providers in terms of installed capacity (103,800 MTPA related to PEB and 1,800,000 square meters per annum for Self-Supported Roofing).

Also read: Shanti Gold IPO allotment finalised: How to check status online on NSE, BSE, Bigshare Services; listing date here
Aditya Infotech
The initial share sale of Aditya Infotech Limited, which offers video security products under the 'CP Plus' brand, ended with robust demand as it received bids for 113,009,2216 shares compared to 11,223,759 shares on offer, leading to a 100.67 times subscription until 5 pm on the last day of bidding.

The portion reserved for the non-institutional investors (NIIs) category was subscribed to 72 times, while the retail individual investors (RIIs) category saw a subscription of 50.87 times. The portion reserved for QIBs was booked 133.21 times on Thursday.

The price band for Aditya Infotech has been set at ₹640-₹675 per share.

The ₹1,300 crore initial public offer is a mix of a fresh issuance of shares aggregating to ₹500 crore and an offer for sale (OFS) of shares worth ₹800 crore by promoters.

The capital raised will be used to the tune of ₹375 crore for payment of debt, while the rest will be utilised for general corporate purposes.

Laxmi India Finance
The initial public offering of NBFC firm Laxmi India Finance closed with a total subscription of 1.85 times, as it received bids for 20,959,744 shares compared to 11,312,816 shares on offer.

The category for non-institutional investors saw 1.83 times the subscription, while the quota for retail individual investors (RIIs) was booked 2.19 times. The portion booked for QIBs was subscribed to 1.3 times on Thursday.

The Jaipur-based company seeks to raise ₹254.26 crore via fresh issuance of 1.84 crore shares and an offer for sale (OFS) of 56.38 lakh shares by promoters. The fresh issue proceeds will be used to beef up its capital base to meet future capital needs towards onwards lending and serve general corporate purposes.

Also read: NSE imposes 20% lower price cap for SME IPO pre-open session from August 4

SME IPOs

Kaytex Fabrics: The SME initial public offer has been subscribed 39.95 times on the last day of bidding. It had received 117,683,200 bids against 2,945,600 reserved shares.
Cash Ur Drive Marketing: On the first day, the SME issue was booked 1.22 times until 5 PM on Thursday. It received 4,077,000 bids against 3,354,000 reserved shares.
Renol Polychem: The IPO was subscribed 1.03 times until 5 PM on the first day of its bidding. It received 2,131,200 bids against 2,070,000 reserved shares.
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About The Author

Ahana Chatterjee - image.jpg
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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