In a spectacular debut that has caught the attention of retail and institutional investors alike, Aditya Infotech Ltd made headlines after listing at a sharp premium on the stock exchanges. The listing pop resulted in non-institutional investors (NIIs) making up to ₹1.3 lakh in profit per application on the very first day of trade. The question now is: should investors book profits or continue to ride the momentum?
The stock’s bumper listing is being attributed to a combination of factors: a strong business model in the technology solutions space, attractive valuations, high grey market premium (GMP), and robust financial performance. But with such swift gains, investors are now looking at potential post-listing risks and valuation saturation.
Listing Day Performance: Windfall for NIIs
Aditya Infotech shares listed at ₹540 on the NSE, a 90% premium over the issue price of ₹285. By mid-day, the stock had touched an intraday high of ₹578 before closing at ₹560, delivering substantial gains for IPO participants across all investor categories.
For non-institutional investors who received allotment through the HNI/NII quota, the average application size ranged between ₹2 lakh and ₹5 lakh. Given the high subscription and allocation math, most received around one lot, leading to profits of ₹1.25 lakh to ₹1.3 lakh per allotment.
| IPO Metrics | Figures |
|---|---|
| IPO Issue Price | ₹285 |
| Listing Price | ₹540 |
| Closing Price on Listing Day | ₹560 |
| Profit per Lot (1 lot = 525 shares) | ₹1,45,250 |
| Gain % on Listing Day | 96.5% |
| GMP Prior to Listing | ₹250-₹270 |
This listing makes Aditya Infotech one of the most successful SME IPO debuts of 2025, both in terms of percentage gains and absolute profits.
Subscription Status: Sky-High Demand Before Listing
The IPO of Aditya Infotech witnessed blockbuster subscription, especially from non-institutional and retail investors, reflecting the strong interest in the company’s business fundamentals.
| Investor Category | Subscription (x) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 96.12x |
| Non-Institutional Investors (NIIs) | 428.17x |
| Retail Individual Investors (RIIs) | 75.34x |
| Overall | 172.35x |
Such overwhelming demand is usually a precursor to a strong listing, and Aditya Infotech didn’t disappoint. However, experts caution that overheated sentiment can lead to a post-listing correction once speculative traders begin to book gains.
About Aditya Infotech: The Business Behind the Buzz
Aditya Infotech is a leading technology distribution and enterprise solutions provider, operating across India with a network of over 10,000 channel partners. It specializes in surveillance systems, IT infrastructure, smart security products, and audio-visual integration services. It is also a value-added distributor for top global brands.
Business Highlights:
- Exclusive distribution partnerships with Hikvision, Dahua, TP-Link, and CP Plus
- Presence across Tier 1 and Tier 2 cities
- 12% market share in India’s B2B surveillance tech market
- Strong YOY growth in revenue and EBITDA
| Financials (₹ in crore) | FY22 | FY23 | FY24 | CAGR (3Y) |
|---|---|---|---|---|
| Revenue | 780 | 980 | 1,240 | 25% |
| EBITDA | 72 | 95 | 118 | 27% |
| PAT | 48 | 62 | 81 | 28% |
| EBITDA Margin (%) | 9.2% | 9.7% | 9.5% | – |
With solid fundamentals, Aditya Infotech is expected to benefit from India’s growing demand for surveillance and smart infrastructure solutions, both from the public and private sectors.
Should Investors Book Profits Now?
While the initial returns have been rewarding, investors are now divided on whether to book profits or stay invested.
Arguments in Favor of Booking Profits:
- Stock has already run up nearly 100% from IPO price, making it vulnerable to short-term corrections
- Heavy NII oversubscription indicates potential overheating in valuation
- Possibility of listing-day traders exiting positions, leading to near-term volatility
- General trend in SME IPOs shows that early profit booking leads to price moderation in the weeks after listing
Arguments in Favor of Holding:
- The company operates in a high-growth, underpenetrated industry
- Valuations remain attractive compared to listed peers like Infinique, HPL Electric
- Company’s consistent growth and zero debt status give it long-term value potential
- Market sentiment for quality tech IPOs remains strong amid bullish market conditions
Peer Comparison: Valuation Check
| Company | P/E Ratio | Market Cap (₹ Cr) | Revenue (₹ Cr) |
|---|---|---|---|
| Aditya Infotech | ~23x (post-listing) | ₹1,350 | ₹1,240 |
| Infinique Tech | 31x | ₹2,100 | ₹1,100 |
| HPL Electric | 27x | ₹1,850 | ₹1,600 |
| CP Plus India (Unlisted) | – | – | ₹2,200 |
Aditya Infotech, even after the listing pop, trades at a discount to listed peers, which could support further upside if it maintains growth momentum.
Analyst View: What Should Investors Do?
Market experts recommend a phased profit booking strategy. Those who entered at the IPO stage and made full allotment gains may consider:
- Booking partial profits (50-60%) to protect capital
- Holding the remaining portion for long-term appreciation, provided the stock maintains support levels
- Watching for Q1 FY26 results to assess sustainability of growth trajectory
- Keeping an eye on insider activity, bulk deals, and volume patterns in the upcoming weeks
What’s Next for Aditya Infotech?
The successful listing opens up multiple possibilities for the company:
- Expansion into IoT, AI-driven surveillance systems, and smart city projects
- Increasing penetration in government tenders and PSU collaborations
- Potential partnerships with global electronics firms for OEM manufacturing in India
- Exploring international distribution in neighboring South Asian markets
If the company leverages its post-IPO capital strength efficiently, it could transform into a mid-cap leader in tech distribution within the next 3–5 years.
Disclaimer:
This article is intended solely for informational purposes and does not constitute financial advice or a recommendation to buy/sell any securities. Readers are encouraged to perform their own due diligence or consult a certified financial advisor before making investment decisions.

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