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Economic Times
16 hours ago
- Business
- Economic Times
Aditya Infotech IPO GMP hints at 38% listing pop. Some brokerages say subscribe, others warn of risks
Aditya Infotech's IPO opened with a bang, backed by a 38% grey market premium and strong retail demand. But while firms like Geojit and Reliance Securities recommend subscribing to long-term growth prospects, others, such as SBI Securities, flag high valuations and weak cash flows as red flags. Tired of too many ads? Remove Ads Sharp valuation debate for Aditya Infotech Tired of too many ads? Remove Ads Solid start to subscription Business profile and financials Tailwinds from policy and market Tired of too many ads? Remove Ads A sharp grey market premium for Aditya Infotech is stoking investor excitement on the debut day. The company's Rs 1,300 crore initial public offering opened for subscription Monday, with its shares commanding a premium of Rs 260 in the unofficial market, implying a potential 38.5% gain over the upper issue price of Rs while retail enthusiasm and early subscription numbers are robust, analyst opinion remains sharply Securities, taking the most conservative stance, flagged high valuations as a red flag. 'At the upper issue price of Rs 675, the stock trades at FY25 P/E of 77.0x, which we believe is exorbitant, in the backdrop of mid-teen return ratios and weak operating cash flows,' the brokerage said. 'Investors are recommended to AVOID the issue and track the performance of the company post-listing.'In contrast, Geojit Financial Services recommended subscribing, citing strong financial growth, a dominant market position, and favourable regulatory tailwinds. 'Considering its market leadership, strong brand recall, extensive distribution network, rapid growth in financials, healthy RoE, favourable policy environment and first mover advantage, we assign a 'Subscribe' rating with a long-term investment perspective,' the brokerage Securities echoed that sentiment, calling the company 'well-placed to benefit from rising surveillance demand, backed by strong distribution, local manufacturing and tech partnerships,' and labelled it a 'compelling long-term investment.'Anand Rathi also backed the issue, albeit cautiously. While calling the IPO 'fully priced,' it issued a 'Subscribe – Long Term' rating based on Aditya's leadership in India's electronic surveillance space and its expansive product Bajaj Broking urged caution. While highlighting strong brand partnerships and steady growth, it noted: 'Subscribe with Caution,' citing 'high valuation and moderate return ratios (RoE 22%, RoCE 20%)' as key Day 1 of bidding, Aditya Infotech's IPO saw an overall subscription of 1.16 times. The retail portion led the momentum, subscribed 4.02 times, while Non-Institutional Investors (NIIs) bid 1.56 times. However, institutional investors appeared more reserved, with Qualified Institutional Buyers (QIBs) subscribing to just 1% of their quota as of early offer, which is open through July 31, is entirely a fresh issue comprising 1.93 crore shares. Listing is tentatively scheduled for August 5 on the BSE and promoter holding will drop to 77% from 95%. Proceeds from the offering will primarily go toward working capital and debt repayment, about Rs 375 crore, aimed at reducing the company's debt-to-equity ratio from 0.4x to in 1995, Aditya Infotech is a leading distributor and manufacturer of electronic surveillance products under its flagship 'CP Plus' brand. The company also distributes Dahua products and partners with major global tech firms, catering to both enterprise and government acquired full ownership of its manufacturing joint venture with Dixon Technologies in 2024, enhancing its domestic production footprint. As of FY25, it has a capacity of 17.2 million units, operating at 77% FY22 and FY24, revenue grew at a 24% CAGR, from Rs 2,090 crore to Rs 3,212 crore. Net profit doubled to Rs 210 crore over the same period. EBITDA margins rose modestly from 9.6% to 10.7%, but analysts note the business remains capital-intensive and susceptible to global supply ratios remain strong, with average RoE and RoCE at 32% and 28% respectively over three years, according to Infotech is expected to benefit from India's Standardisation Testing and Quality Certification (STQC) norms, implemented in April 2025, which restrict the sale of certain Chinese imports in IP-driven surveillance systems. Domestic players like Aditya, with local manufacturing and embedded R&D, are seen as well-positioned to capitalise on this Indian video surveillance market, currently valued at Rs 106 billion, is projected to more than double by FY30, growing at a CAGR of 16.5%, according to Frost & demand and grey market buzz suggest a hot listing for Aditya Infotech. But beyond the IPO pop, investors face a classic dilemma: a fast-growing company in a favourable market, but at a steep price. With brokerages split down the middle, the bet may come down to one's appetite for long-term risk versus short-term reward.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
a day ago
- Business
- Economic Times
Monarch Surveyors IPO set for listing today. 84% GMP signals robust debut
Monarch Surveyors and Engineering is all set to make its stock market debut on Tuesday on the BSE SME platform. Ahead of its listing, the IPO is commanding a solid grey market premium (GMP) of Rs 210 — translating to a likely listing price of around Rs 460 against the issue price of Rs 250, implying potential listing gains of 84%. ADVERTISEMENT The Rs 94 crore IPO, which ran from July 22 to July 24, saw overwhelming investor interest across categories. The issue was subscribed a massive 250.65 times overall, with retail investors bidding 263.01 times, non-institutional investors (NIIs) 317.05 times, and qualified institutional buyers (QIBs) 179.01 times. Monarch Surveyors provides end-to-end civil engineering consultancy services such as surveying, GIS mapping, geotechnical investigations, feasibility studies, and project management. The company's client base includes entities from the roads, railways, ports, and oil and gas sectors. As of March 2024, the company had 417 employees and a diverse project portfolio across infrastructure the company reported consistent growth with FY25 revenue rising 10% YoY to Rs 155.66 crore and profit after tax (PAT) up 16% to Rs 34.83 aggressive subscription figures, and a steep GMP of 84%, Monarch Surveyors' listing is likely to be solid. All eyes will now be on whether the stock can sustain its premium in the sessions post-listing. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
3 days ago
- Business
- Mint
NSDL IPO opens next week: GMP, price, date, other details in 10 points
The most awaited National Securities Depository Ltd. (NSDL) initial public offering (IPO) is all set to hit the primary market next week. The NSDL IPO will open for subscription on July 30 and close on August 1. NSDL IPO is a book-building of ₹ 4,011.60 crores. The issue is entirely an offer for sale of 5.01 crore shares. The NSDL IPO has allocated up to 50 per cent of the shares for Qualified Institutional Buyers (QIBs), at least 15 per cent for Non-Institutional Investors (NIIs), and a minimum of 35 per cent for retail investors. Additionally, up to 85,000 equity shares are set aside for eligible employees, who will also receive a discount of ₹ 76 per share under the employee reservation segment. This IPO is entirely an offer for sale, involving up to 5.01 crore equity shares being sold by existing shareholders. IDBI Bank plans to divest up to 2.22 crore shares, the National Stock Exchange (NSE) aims to sell up to 1.80 crore shares, while the State Bank of India (SBI) will offer up to 40 lakh shares. HDFC Bank and Union Bank of India intend to sell up to 20 lakh and 5 lakh shares, respectively. NSDL IPO date: The IPO will open for subscription on July 30 and close on August 1. NSDL IPO price band: NSDL IPO price band is set at ₹ 760 to ₹ 800 per share, with a face value of ₹ 2 per share. NSDL IPO size: The IPO is a book-building of ₹ 4,011.60 crore and is entirely an offer for sale of 5.01 crore shares. NSDL IPO lot size: The minimum amount of investment required by an retail is ₹ 13,680 (18 shares). NSDL IPO reservation: 50 per cent reserved for QIB, 35 per cent reserved for retail and 15 per cent for NIIs. NSDL IPO allotment date: The allotment for the NSDL IPO is expected to be finalized on Monday, August 4. NSDL IPO listing date: The IPO will be list on BSE with a tentative listing date fixed as Wednesday, August 6. NSDL IPO lead manager: ICICI Securities Limited is the book-running lead manager. NSDL IPO registrar: MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. NSDL IPO GMP: The shares of NSDL IPO is trading at ₹ 145 in the grey market. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
3 days ago
- Business
- Time of India
Indiqube Spaces IPO to be finalised Monday. Here's how to check status
The share allotment for Indiqube Spaces has been finalised today. Investors who subscribed to the Rs 700-crore IPO can now verify their allotment status on the registrar's website — MUFG Intime India Pvt Ltd (Link Intime). The IPO saw a strong overall subscription of 13 times, led by Qualified Institutional Buyers (QIBs) who bid 15.12 times their quota. The retail portion was subscribed 13.28 times, and Non-Institutional Investors (NIIs) subscribed 8.68 times. The employee category was also well-received, with a 6.95x subscription. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science CXO Data Analytics Product Management Project Management MBA Design Thinking others Technology Healthcare Leadership Degree MCA Others Operations Management Management PGDM Data Science Artificial Intelligence Finance healthcare Cybersecurity Digital Marketing Public Policy Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details How to check Indiqube IPO allotment status: 1. Visit the registrar's website: [ ]( ) 2. Click on the 'IPO Allotment Status' link on the homepage. 3. Select 'Indiqube Spaces IPO' from the dropdown. Live Events 4. Enter either your PAN number, Application Number, or DP/Client ID. You can also check allotment via the BSE website: 1. Go to [ 2. Select 'Equity' and choose 'Indiqube Spaces' from the dropdown. 3. Enter your application number and PAN. Successful applicants will see shares credited to their demat accounts on July 29, while refunds for unsuccessful bids will also be initiated on the same day. The stock is scheduled to list on BSE and NSE on July 30. Ahead of the IPO, the company raised Rs 314 crore from anchor investors. Company Outlook Indiqube, which offers managed workspaces and co-working solutions, operates 115 centres across 15 cities, covering over 8.4 million sq ft of space. While it continues to post net losses due to expansion and Ind-AS accounting adjustments, its revenues rose 27% in FY25. With a grey market premium (GMP) hovering around Rs 5, a steep fall from the IPO opening day, the stock may list at a gain of 2% over the issue price.
Economic Times
3 days ago
- Business
- Economic Times
Indiqube Spaces IPO to be finalised Monday. Here's how to check status
The share allotment for Indiqube Spaces has been finalised today. Investors who subscribed to the Rs 700-crore IPO can now verify their allotment status on the registrar's website — MUFG Intime India Pvt Ltd (Link Intime). The IPO saw a strong overall subscription of 13 times, led by Qualified Institutional Buyers (QIBs) who bid 15.12 times their quota. ADVERTISEMENT The retail portion was subscribed 13.28 times, and Non-Institutional Investors (NIIs) subscribed 8.68 times. The employee category was also well-received, with a 6.95x subscription. How to check Indiqube IPO allotment status: 1. Visit the registrar's website: [ Click on the 'IPO Allotment Status' link on the homepage.3. Select 'Indiqube Spaces IPO' from the dropdown.4. Enter either your PAN number, Application Number, or DP/Client ID. ADVERTISEMENT You can also check allotment via the BSE website:1. Go to [ Select 'Equity' and choose 'Indiqube Spaces' from the dropdown. ADVERTISEMENT 3. Enter your application number and applicants will see shares credited to their demat accounts on July 29, while refunds for unsuccessful bids will also be initiated on the same day. The stock is scheduled to list on BSE and NSE on July 30. ADVERTISEMENT Ahead of the IPO, the company raised Rs 314 crore from anchor investors. Indiqube, which offers managed workspaces and co-working solutions, operates 115 centres across 15 cities, covering over 8.4 million sq ft of space. While it continues to post net losses due to expansion and Ind-AS accounting adjustments, its revenues rose 27% in FY25. With a grey market premium (GMP) hovering around Rs 5, a steep fall from the IPO opening day, the stock may list at a gain of 2% over the issue price. (You can now subscribe to our ETMarkets WhatsApp channel)
