At the upper end of the price band, the minimum investment for retail investors stands at Rs 2.75 lakh for a lot size of 1,600 shares, positioning it firmly in the SME segment where ticket sizes remain elevated.
Moderate GMP reflects cautious sentiment
The grey market premium of around 4% suggests limited listing upside, especially compared to recent SME IPOs that have seen stronger speculative interest. The muted premium comes at a time when broader market volatility and foreign outflows have tempered risk appetite, particularly for smaller issues.Despite this, steady GMP indicates baseline investor interest, likely supported by the company’s niche positioning in industrial automation.
Business model tied to manufacturing automation
Adisoft Technologies operates in the industrial digital automation space, providing customised automation solutions such as robotic work cells, automated assembly lines, and material handling systems.
Its client base includes automobile manufacturers, OEMs, and component suppliers — sectors that are increasingly investing in automation to improve efficiency and reduce human intervention.The company integrates shop floor equipment with IT systems, positioning itself within the broader Industry 4.0 theme, which continues to see structural adoption across manufacturing.
Proceeds from the IPO will be primarily used for capital expenditure, including setting up a new manufacturing facility, along with debt repayment and working capital requirements.
This indicates a growth-led capital allocation strategy, aligned with expected demand for automation solutions as Indian manufacturing scales up and global supply chains diversify.
Adisoft has shown strong growth over the past few years, with revenue rising to Rs 133 crore in FY25 from Rs 76 crore in FY23. Profit after tax stood at Rs 16.1 crore in FY25. However, recent financials suggest some moderation, with PAT at Rs 3.74 crore for the period ended October 2025.
The IPO has seen anchor investor participation of around Rs 21 crore, providing some institutional backing ahead of the issue opening.
Nearly 50% of the net offer is reserved for qualified institutional buyers, while retail investors have a 35% allocation. The presence of anchor investors offers some stability, although SME IPOs remain largely retail-driven in subscription dynamics.