Aditya Infotech Soars with 100x Demand, NSDL Gets 25.68x, Laxmi India Finance Sees Steady Retail Backing Aditya Infotech's INR 1,300 crore IPO saw exceptional demand with over 100x subscription, while NSDL's INR 4,011 crore issue clocked 25.68x bids by Day 2, driven by strong QIB and NII participation. Laxmi India Finance closed with a modest 1.85x subscription, led by retail investors and long-term interest.
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The initial public offering (IPO) of Aditya Infotech witnessed overwhelming investor interest, with subscriptions soaring over 100 times by the third day of bidding. Robust demand across investor categories, coupled with a strong grey market premium and positive recommendations from brokerages, drove the stellar response.
The IPO, priced between INR 640-675 per share, comprises a fresh issue worth INR 500 crore and an offer for sale (OFS) of INR 800 crore, aggregating to INR 1,300 crore at the upper end of the price band. Proceeds from the fresh issue are earmarked for repaying select corporate borrowings and for general corporate purposes.
Retail investors could bid in lots of 22 shares, with a minimum investment of INR 14,080. Brokerage firms such as Canara Bank Securities had all given the IPO a 'Subscribe' rating.
Laxmi India Finance IPO Closes with 1.85x Subscription
The INR 254.26 crore initial public offering (IPO) of Laxmi India Finance closed with an overall subscription of 1.85 times on the final day. The issue saw solid traction from retail investors, who subscribed 2.19 times their allocated portion, while interest from non-institutional investors (NIIs) and qualified institutional buyers (QIBs) remained relatively muted at 1.83x and 1.30x, respectively.
As of July 31, the grey market premium (GMP) stood at INR 1, down from INR 4 earlier in the day, suggesting a modest listing price of around INR 159, just 0.6 per cent above the upper end of the IPO price band at INR 158. Some grey market activity also hinted at a possible listing price closer to INR 162, offering a slightly better upside.
Brokerage house Bajaj Broking recommended subscribing to the IPO from a long-term perspective. It highlighted Laxmi India Finance Limited's focus on underserved MSME customers and its consistent financial performance. The company posted steady growth across three fiscal years: INR 130.67 crore revenue and INR 15.97 crore profit in FY23, INR 175.02 crore / INR 22.47 crore in FY24, and INR 248.04 crore / INR 36.01 crore in FY25.
NSDL IPO Sees Strong Demand
The INR 4,011 crore IPO of National Securities Depository Ltd (NSDL) garnered an impressive 25.68 times subscription by the second day of bidding, according to NSE data. The issue received bids for 90.21 crore shares against 3.51 crore shares on offer.
Among investor categories, non-institutional investors subscribed 33.63 times, retail investors 7.24 times, and qualified institutional buyers (QIBs) 52.10 times their respective quotas.
The IPO is priced in the range of INR 760-800 per share. As of Friday, the grey market premium (GMP) stood at INR 135, indicating a likely listing price of INR 935, translating to a premium of approximately 16.88 per cent over the upper end of the price band, as per InvestorGain.
