Aditya Infotech
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Jul 2025 – 31 Jul 2025
- Listing date
- 05 Aug 2025
- Face value
- ₹1 per share
- Issue price
- ₹675 per share
- Lot size
- 22 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹1,300 Cr
- Market cap at offer price
- ₹7,912 Cr
- Promoter holding
- 92.58% → 76.70% pre-issue → post-issue
- ISIN
- INE819V01029
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- ICICI Securities Ltd.
- Registered office
- F-28, Okhla Industrial Area, Phase-1, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 86,26,666 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 22 shares per lot, in multiples, at ₹675
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 22 | ₹14,850 |
| Retail (max) | 13 | 286 | ₹1,93,050 |
| S-HNI (min) | 14 | 308 | ₹2,07,900 |
| S-HNI (max) | 67 | 1,474 | ₹9,94,950 |
| B-HNI (min) | 68 | 1,496 | ₹10,09,800 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 32.00 | 29.98 |
| P/E (×) | 21.09 | 22.52 |
| Price to book (×) | 7.06 | — |
| Market cap | — | ₹7,912 Cr |
Key performance indicators
- Return on net worth
- 34.53%
- ROCE
- 33.27%
- Debt / equity
- 0.41
- PAT margin
- 11.25%
- EBITDA margin
- 8.27%
- NAV per share
- ₹95.64
- Price to book
- 7.06
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Aditya Infotech
Aditya Infotech Limited, incorporated in 1995 and renamed from 'Perfect Lucky Goldstar International Limited' in 1997, is a manufacturer and distributor of advanced video security and surveillance products and solutions. The company offers a comprehensive range of products under its 'CP PLUS' brand for both enterprise and consumer segments. Its business model comprises manufacturing operations through its Material Subsidiary AIL Dixon Technologies Private Limited (acquired September 2024) and distribution through a network of distributors and system integrators. The company generates revenue from the sale of surveillance equipment (primarily CCTV cameras, NVRs, DVRs, and PTZ cameras contributing 78.95% of revenue in FY2025), distribution of Dahua products (24.65% of revenue), and system-integrated projects (16.17% of revenue). The company also sells products through retail, online channels, and e-commerce platforms.
Company Analysis
from RHPAditya Infotech Limited manufactures and distributes video surveillance and security products including CCTV cameras, network video recorders (NVRs), digital video recorders (DVRs), and pan-tilt-zoom (PTZ) cameras for enterprise and consumer segments under its 'CP PLUS' brand, operating in the surveillance technology and security solutions industries.
Aditya Infotech Limited, incorporated in 1995 and renamed from 'Perfect Lucky Goldstar International Limited' in 1997, is a manufacturer and distributor of advanced video security and surveillance products and solutions. The company offers a comprehensive range of products under its 'CP PLUS' brand for both enterprise and consumer segments. Its business model comprises manufacturing operations through its Material Subsidiary AIL Dixon Technologies Private Limited (acquired September 2024) and distribution through a network of distributors and system integrators. The company generates revenue from the sale of surveillance equipment (primarily CCTV cameras, NVRs, DVRs, and PTZ cameras contributing 78.95% of revenue in FY2025), distribution of Dahua products (24.65% of revenue), and system-integrated projects (16.17% of revenue). The company also sells products through retail, online channels, and e-commerce platforms.
Objects of the Issue
- Prepayment and/or repayment of all or a portion of certain outstanding borrowings availed by our Company ₹3,750.00 million p.28
- General corporate purposes Up to [●] (not exceeding 25% of Gross Proceeds) p.28
Issue Structure
- Total Issue
- Up to ₹13,000.00 million
- Fresh Issue
- Up to ₹5,000.00 million
- Offer for Sale
- Up to ₹8,000.00 million
- Price Band
- [●] per Equity Share (to be determined through book building)
- Lot Size
- [●] Equity Shares and multiples thereof
- Face Value
- ₹1 each
Business Model
The company operates through two primary revenue streams: (1) Manufacturing and sale of CP PLUS branded surveillance products through distributors and system integrators, generating 79.45% of revenue from distributor channels; and (2) Distribution of Dahua-branded products as exclusive distributor in India since 2023. Revenue also comes from integrated security projects for enterprise customers. The company manufactures products at its Kadapa facility in Andhra Pradesh with installed capacity of 17.20 million units per year, achieving 77.04% capacity utilization in FY2025.
Business Segments
SWOT Analysis
- • Established brand with strong market presence in surveillance(p.52)
- • Diversified product range across multiple surveillance categories(p.42)
- • Significant manufacturing capacity and scale(p.54)
- • Strong distribution network across India(p.51)
- • Established relationships with major technology partners(p.46)
- • Strong financial growth trajectory(p.56)
- • Heavy dependence on single manufacturing facility in Andhra Pradesh(p.45)
- • Limited customer diversification with top 10 customers representing 18.80% of revenue(p.50)
- • High supplier concentration with largest supplier accounting for 51.92% of materials consumed(p.43)
- • Negative operating cash flow in prior year(p.50)
- • Significant reliance on imports primarily from China(p.44)
- • Prior fire incident causing stock loss(p.47)
- • Missing historical corporate records and form filings(p.48)
- • Installed capacity exceeds environmental approval limits(p.87)
- • Rapidly growing video surveillance market in India(p.27)
- • Expansion into retail presence through experience centres and stores(p.52)
- • Increasing production capacity at Kadapa facility(p.91)
- • Expanding system integrator and distributor network(p.51)
- • Service-led model and focus on enterprise customers(p.91)
- • Product innovation and technology adoption(p.91)
- • Intense competition from established and emerging players(p.27)
- • Significant portion of revenue dependent on Dahua products at risk of supply disruption(p.45)
- • Geographical restrictions on product sales in certain regions(p.47)
- • Import restrictions and commodity price fluctuations affecting supply chain(p.44)
- • Risk of local and regional disruptions at Andhra Pradesh manufacturing location(p.45)
- • Dependence on manufacturing synergies with AIL Dixon and Dixon Technologies(p.47)
- • Potential loss of competitive advantage through leakage of technical knowledge(p.86)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Hari Shanker Khemka | Promoter | 0.00% (100 shares) | — |
| Aditya Khemka | Promoter/Promoter Selling Shareholder | 55.11% | — |
| Ananmay Khemka | Promoter/Promoter Selling Shareholder | 0.84% | — |
| Rishi Khemka | Promoter/Promoter Selling Shareholder | 13.32% | — |
| Hari Khemka Business Family Trust | Promoter | 17.85% | — |
| Hari Shankar Khemka (HUF) | Promoter Group Selling Shareholder | 0.71% | — |
| Shradha Khemka | Promoter Group Selling Shareholder | 0.42% | — |
| Aditya Khemka (HUF) | Promoter Group Selling Shareholder | 0.02% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.