MUMBAI: Aditya Infotech, the largest domestic manufacturer of CCTV cameras, both analog and digital, with a 1.5 million annual capacity at its Kadappa, Andhra Pradesh plant, has announced the price band for its Rs 1,300-crore IPO. The issue will open for public subscription on July 29 at Rs 640-675/per share.
The company, which sells its product under the label of CP Plus, is the market leader among domestic players by a wide margin in a Rs 15,000 crore market of around 40 million units. The company is increasing its installed capacity to 2.5 million in two phases ending Q1FY27—the first half will see a million going onstream by the end of the next quarter and the second half will see a million getting commissioned by the first quarter of the next fiscal.
The Rs 1,300-crore issue comprises fresh issue of Rs 500 crore and an offer for sale worth Rs 800 crore by selling shareholders. The promoter shareholders who are selling in the OFS are Aditya Khemka (Rs 524 crore) Ananmay Khemka (Rs 12.3 crore), Rishi Khemka (Rs 200 crore), Hari Shankar Khemka (Rs 42.64 crore), Shradha Khemka (Rs 19.9 crore) and Aditya Khemka (Rs 1.15 crore).
Significantly, Dixon Technologies, which had a 50% stake in Aditya earlier but was bought out recently will not participate in the OFS and will retain its 6.5% stake in the company post issue, the management told TNIE here Thursday.
The company proposes to utilise the proceeds from fresh issue towards repayment of borrowings and the rest towards general corporate purposes which also includes funding the capacity addition.