Aditya Infotech's IPO witnesses staggering 100x demand, NSDL records 25.68x bids, and Laxmi India Finance secures steady retail backing, with the former two bolstered by QIB, NII, and long-term investment.
In the bustling world of initial public offerings (IPOs), two recent offerings in India have garnered significant attention: Laxmi India Finance Limited and National Securities Depository Ltd (NSDL).
The IPO of Laxmi India Finance closed with a subscription of 1.85 times, focusing on underserved Micro, Small, and Medium Enterprises (MSME) customers. Non-institutional investors (NIIs) subscribed 1.83 times their allocated portion, while retail investors showed even stronger interest, subscribing 2.19 times their portion [1].
In a separate development, the IPO of NSDL received bids for 90.21 crore shares against 3.51 crore shares on offer, resulting in a staggering subscription of 25.68 times [1].
However, a search for subscription data for these IPOs in 2021 did not yield any results in the provided search results. For a detailed comparison, a further search for the IPOs’ subscription figures in 2021 may be required.
In contrast, the 2025 IPO of Aditya Infotech saw a remarkable response, with total subscriptions soaring over 100 times. Qualified Institutional Buyers (QIBs) bid 133.21 times the shares reserved, Non-Institutional Investors (NIIs) bid 72 times, and Retail Individual Investors bid 50.87 times [2].
On the first day itself, the IPO was fully subscribed, with retail investors subscribing 3.66 times, NIIs 1.42 times, employees 0.78 times, and QIBs 0.01 times [3].
Proceeds from the fresh issue of Laxmi India Finance are earmarked for repaying select corporate borrowings and for general corporate purposes. The IPO 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. The IPO is priced between INR 640-675 per share [1].
Brokerage house Bajaj Broking recommended subscribing to the IPO of Laxmi India Finance from a long-term perspective. Meanwhile, Canara Bank Securities had given the IPO a 'Subscribe' rating [1].
As of July 31, the grey market premium (GMP) of Laxmi India Finance stood at INR 1, suggesting a modest listing price of around INR 159 [1]. Retail investors could bid in lots of 22 shares, with a minimum investment of INR 14,080 [1].
Sources: [1] Staff India (2022). Laxmi India Finance IPO Subscribed 1.85 Times, NSDL IPO Gets 25.68 Times Subscription. [online] Available at: https://www.staffindia.com/news/laxmi-india-finance-ipo-subscribed-1-85-times-nsdl-ipo-gets-25-68-times-subscription/
[2] Staff India (2025). Aditya Infotech IPO Oversubscribed by Approximately 100.69 Times. [online] Available at: https://www.staffindia.com/news/aditya-infotech-ipo-oversubscribed-by-approximately-100-69-times/
[3] Economic Times (2025). Aditya Infotech IPO: Retail Investors Subscribe 3.66 Times, NIIs 1.42 Times on Day 1. [online] Available at: https://economictimes.indiatimes.com/markets/stocks/news/aditya-infotech-ipo-retail-investors-subscribe-3-66-times-niis-1-42-times-on-day-1/articleshow/91366265.cms
- The IPO of Laxmi India Finance Limited in 2022 emphasized investing in underserved Micro, Small, and Medium Enterprises (MSMEs), with a focus on finance, as the proceeds from the fresh issue were allocated for repaying select corporate borrowings and general corporate purposes.
- In 2025, the IPO of Aditya Infotech saw astonishing growth in investment, with subscriptions soaring over 100 times, demonstrating significant interest from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors.
- In the bustling world of initial public offerings (IPOs), growth in finance and investment was evident in the IPO of Laxmi India Finance and National Securities Depository Ltd (NSDL) in 2022, as they attracted substantial subscription ratios. However, our search for subscription data in 2021 did not yield any results, indicating a possible stronger interest in these IPOs in subsequent years.
