Khaitan & Co has advised video security and surveillance company Aditya Infotech and its promoter selling shareholders on its initial public offering comprising a fresh issue of INR 500 crore and an offer for sale worth INR 800 crore. Trilegal and Hogan Lovells served as domestic and international counsel, respectively, to the book running lead managers.
The BRLMs comprised ICICI Securities and IIFL Securities.
The company listed today at a premium of 51 percent, and was oversubscribed by 100 times. The massive oversubscription and high listing premium reflect strong investor appetite for technology/product-oriented, market-leading companies in security and surveillance.
The tech-forward company raised INR 582.3 crore form anchor investors such as Singapore government entities, Goldman Sachs, Nomura, and Abu Dhabi Investment Authority.
This comes amid a rising demand for security, AI-based surveillance, IoT, and industrial automation driving robust industry expansion in India.
Aditya Infotech is India’s largest video surveillance products company. Its flagship brand is CP Plus.
Khaitan’s capital markets team included partner Gautham Srinivas, senior associate Sanjeev Chowdhary, and associates Vaishnavi Gupta, Vanshika Chaudhry, Ujwal Zutshi, Sarvesh Sharma, Vidushi Tanya, and Anubhav Jaiswal.
The Hogan Lovells capital markets team was led by India practice head Biswajit Chatterjee with support from Kaustubh George, Varun Jetly, Aditya Rajput, Suchisubhra Sarkar, Jayant Bhardwaj, Aditya DSouza, Sanjana Ravjiani, Komal Israni and Purva Mishra.
Trilegal’s team comprised partners Bhakta Patnaik and Brajendu Bhaskar, supported by counsel Malika Grewal, and associates Janhavi Shah, Akanksha Goel, Manasi Barve and Tushar Chitlangia.
