When Aditya Infotech Limited announced that its initial public offering (IPO) allotment had been finalized on August 1, 2025, investors across the country rushed to verify their share allocations. The Mumbai‑based technology firm saw an overall subscription of 100.69 times, a figure that sent ripples through the Indian capital markets. The allotment process, overseen by MUFG Intime India Private Limited (operating as Link Intime), will be reflected on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) when trading begins on August 5, 2025. The news matters because it underscores strong investor confidence in a sector that’s been wobbling under global tech headwinds.
Background and IPO Timeline
The journey began when Aditya Infotech Limited filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India on September 30, 2024. After a rigorous review, SEBI and the exchanges gave the green light on January 29, 2025. The issue comprised 1,92,59,260 equity shares, each with a face value of ₹1, priced between ₹640 and ₹675, targeting a total raise of roughly ₹1,300 crore. The book‑running lead manager, ICICI Securities Limited, led roadshows in major Indian cities, betting on strong demand from institutional and retail investors alike.
Subscription Results: Numbers that Shocked the Market
From July 29 to July 31, 2025, the issue drew a flurry of bids. Qualified Institutional Buyers (QIBs) booked the quota 133.21 times, Non‑Institutional Investors (NIIs) subscribed 72.00 times, and Retail Individual Investors (RIIs) came in at 50.86 times. In plain language – for every share on offer, more than a hundred investors wanted it.
- Overall subscription: 100.69×
- QIB oversubscription: 133.21×
- NIIs oversubscription: 72.00×
- Retail oversubscription: 50.86×
- Lot size: 22 shares (minimum ₹14,080 at ₹640)
“The response exceeded our most optimistic forecasts,” said Rohit Sharma, senior director at ICICI Securities. “It tells us that investors still view Indian tech firms as growth engines despite macro‑uncertainty.”
How Investors Can Check Their Allotment
Allotment verification is a three‑step process. First, applicants log onto the registrar’s portal – the MUFG Intime India Private Limited (Link Intime) website – and enter either their PAN, the IPO application number, or the Demat account/DP client ID. Second, the same details can be fed into the IPO Ji mobile app, which mirrors the registrar’s data in real time. Finally, both the BSE and NSE investor portals provide a ‘Allotment Status’ tab where the same identifiers retrieve the allocation outcome.
Investors who received shares will see them credited to their Demat accounts by Monday, August 4, 2025, well ahead of the listing. Those who were not allotted will receive refund instructions from their brokers, with the full amount expected back by Friday, August 8, 2025.
Market Implications and Expert Views
The IPO’s success signals a broader bullish sentiment toward the Indian IT services space. Analysts at Motilal Oswal argue that the oversubscription reflects confidence in Aditya Infotech’s niche in digital transformation projects for banking and insurance firms. “When you see retail investors buying in at 50‑plus times, it’s a clear sign that the brand has penetrated the public psyche beyond institutional circles,” noted analyst Neha Gupta.
From a capital‑raising perspective, the fresh‑issue component – ₹500 crore – will be earmarked for working‑capital needs and potential strategic acquisitions, according to the prospectus. The sell‑down portion, worth ₹800 crore, allows existing promoters, who held 89.01 % pre‑IPO, to monetize a chunk of their stake while still retaining control.
With the listing slated for August 5, market participants expect high opening‑day volumes. The BSE and NSE have already earmarked special monitoring windows to ensure smooth price discovery, given the expected surge in buy‑sell orders.
What Comes Next for Aditya Infotech
Post‑listing, the company will report its first quarterly earnings as a listed entity in late October 2025. Management has hinted at expanding its offshore delivery centers and exploring AI‑enabled service lines. If the capital is deployed efficiently, the firm could climb the ranks of mid‑cap tech leaders, challenging incumbents like TCS and Infosys for niche contracts.
Meanwhile, the IPO saga offers a case study for upcoming issuers. The blend of strong institutional backing, aggressive retail outreach, and a clear use‑of‑proceeds narrative proved potent. As the financial press continues to tally the year’s most sought‑after listings, Aditya Infotech’s oversubscribed debut will sit near the top of that list.
Frequently Asked Questions
How can retail investors verify if they got allotted shares?
Retail investors should visit the Link Intime (MUFG Intime India) registrar portal, enter their PAN, IPO application number, or Demat ID, and click ‘Check Allotment’. The same credentials work on the BSE and NSE investor sites and on the IPO Ji mobile app. Results are displayed instantly, and allotted shares are credited by August 4.
What happens to applicants who were not allotted any shares?
Unsuccessful applicants will receive a refund instruction from their broker or bank within seven working days of the allotment date. The full amount, including any application fees, should be credited back to the investor’s account by August 8, 2025.
Why did the QIB segment see a 133‑times subscription?
QIBs are typically large‑cap funds, mutual funds, and foreign institutional investors. They were attracted by Aditya Infotech’s steady order‑book in digital transformation services and the prospect of a sizable post‑listing upside. Their deep‑pocketed status also allowed them to bid aggressively for a higher allocation.
What are the intended uses of the fresh‑issue proceeds?
According to the prospectus, the ₹500 crore fresh‑issue proceeds will fund working‑capital requirements, enhance the company’s delivery infrastructure, and support selective strategic acquisitions that complement its existing service portfolio.
When will the shares start trading on the exchanges?
The shares of Aditya Infotech Limited are scheduled to commence trading on both the Bombay Stock Exchange and the National Stock Exchange on Tuesday, August 5, 2025.