Adisoft Technologies IPO Review: ₹163-₹172 Price Band, Opens 23 Apr 2026, Lot Size 800 Shares — Apply or Skip?

By IPOMarket Editorial Team · Last reviewed: April 2026

Disclaimer: This article is for educational purposes only and does not constitute investment advice. SME IPOs carry significantly higher liquidity, valuation and concentration risk than mainboard issues. Always read the offer document and consult a SEBI-registered financial advisor before subscribing.

Adisoft Technologies IPO — Key Details at a Glance

Subscription Window — Five Days, Closes Monday 27 April

The Adisoft Technologies SME public issue opens on Thursday, 23 April 2026 and remains open for retail and HNI bidding until Monday, 27 April 2026. Although the calendar shows a five-day window, the practical active subscription period is three working days because the intervening Saturday and Sunday are non-trading days. Most investor activity in SME IPOs concentrates in the closing hours of the final day, so it is common to see the QIB and NII books move sharply on Day 3 (Monday afternoon) before the issue closes at 5 PM IST.

For retail investors planning to apply, two timing considerations matter. First, ASBA blocks funds in your bank account from the moment you submit the bid until allotment is finalised; if your funds are not available throughout this window the application is rejected. Second, applying on Day 1 versus Day 3 makes no difference to your allotment probability — SME retail allotment is done on a lottery basis once the issue is oversubscribed, regardless of when you applied.

Price Band ₹163 – ₹172 and Lot Size 800

The price band has been fixed at ₹163 to ₹172 per share, giving a 5.5% range that retail bidders can choose within. Almost every retail application is placed at the upper end (₹172) because cut-off bids at the upper limit are mandatory for the highest probability of allotment in an oversubscribed scenario. Bidding below the cut-off price typically results in your application being ignored when the final issue price is set at the upper end of the band — a likely outcome if the IPO is well-subscribed.

The lot size for Adisoft is 800 shares per application. At the upper price band of ₹172 this works out to a minimum investment of ₹1,37,600 per lot for retail investors. SME IPO lot sizes are deliberately set higher than mainboard IPOs (which usually require around ₹14,000 to ₹15,000 per lot) so that only investors with a meaningful risk appetite participate in this segment. SEBI requires SME applications to be at least ₹1 lakh per lot, and most brokers — Zerodha, Groww, Upstox, ICICI Direct, Angel One — support SME IPO applications through their normal IPO module.

For investors who want to bid in the HNI category, the minimum is two lots (1,600 shares = ₹2,75,200). HNI allotment in SME issues uses proportionate allotment rather than the lottery-based mechanism applied to retail.

About Adisoft Technologies and the NSE SME Platform

Adisoft Technologies is being listed on the NSE Emerge platform — NSE's dedicated exchange for small and medium enterprises. The NSE SME segment was launched in 2012 and has hosted over 500 listings since inception, with companies eventually graduating to the mainboard once they meet the size and compliance thresholds (a minimum paid-up capital of ₹10 Cr and other listing eligibility conditions defined by SEBI's ICDR regulations).

SME IPOs differ from mainboard issues in three meaningful ways that every retail investor should understand before subscribing:

1. Lower liquidity post-listing. SME stocks trade only in lot sizes (not single shares), and circuit filters of 5% are applied. This means daily trading volumes are often a fraction of mainboard names, and exit liquidity can be a concern especially for HNI-sized positions.
2. Lower disclosure thresholds. Quarterly results, broker coverage, and analyst consensus are typically thinner for SME-listed companies. Investors must rely more heavily on the Red Herring Prospectus (RHP) and primary source filings on the NSE Emerge website.
3. Smaller issue size. At ₹74 Cr, Adisoft's issue is sized for the SME segment. Smaller issues can see sharp listing-day moves in either direction because float is limited and price discovery happens with fewer participants.

For a deeper read on how SME IPOs differ from mainboard offerings see our guide on mainboard vs SME IPO differences.

How to Apply for the Adisoft Technologies IPO

You can apply for the Adisoft Technologies SME IPO through any SEBI-registered broker that supports SME applications. Most discount brokers route SME bids through the same IPO module used for mainboard issues:

• Zerodha — Console → IPO → search "ADISOFT" or "Adisoft Technologies"
• Upstox — Discover → IPO → SME tab
• Angel One — IPO section, filter SME
• Groww — IPO discovery card

After selecting Adisoft Technologies, place your bid at the cut-off price (₹172), enter UPI ID, and approve the mandate request from your UPI app. The amount of ₹1,37,600 per lot will be blocked in your bank account from the time the mandate is approved until allotment day. If you do not have sufficient balance throughout this window, the application is treated as invalid and rejected by NSE.

For a step-by-step walk-through that is identical for SME and mainboard applications, see our guide on how to apply for an IPO online in 2026.

Allotment, Listing Timeline and Refund

The Adisoft Technologies basis of allotment is scheduled for Tuesday, 28 April 2026 — exactly one working day after the issue closes. This is the SEBI-mandated T+1 timeline that has applied to all Indian IPOs since the December 2023 reform that compressed the IPO process from T+6 to T+3 (open to listing).

Once the basis of allotment is finalised by the registrar, three things happen in parallel on 28-29 April:

• Allotted investors see the share credit hit their demat account by Wednesday evening, 29 April.
• Non-allotted investors see the ASBA mandate released on the same day, freeing up the blocked ₹1,37,600.
• Partially allotted HNI investors receive a proportionate share count and a partial refund to their bank account.

Listing on NSE SME is scheduled for Thursday, 30 April 2026. Trading begins at 10:00 AM IST after a pre-open session window from 9:00 to 9:45. Adisoft Technologies will trade only in lot sizes of 800 shares and will be subject to the standard 5% circuit on listing day (which can later expand to 10% or 20% depending on volume thresholds).

Checking Allotment via Kfin Technologies

The registrar for the Adisoft Technologies IPO is Kfin Technologies Ltd. (formerly Karvy Fintech), one of the two largest SEBI-registered RTAs in India along with Link Intime. From the evening of 28 April 2026, you can check your allotment status on the Kfin Technologies IPO portal using any one of three identifiers: PAN, Application Number, or DP/Client ID. Our smart allotment checker auto-detects the registrar for any IPO so you do not need to remember which one to visit — just enter your PAN once and we route to the correct portal.

For a deeper guide on how the allotment lottery works for oversubscribed retail bids see our explainer on how shares are distributed to investors.

GMP Watch — Track Live Grey Market Premium

Grey Market Premium (GMP) for SME IPOs tends to be more volatile and less reliable than mainboard GMP because the grey market trader base for SME issues is concentrated in fewer regional hubs (primarily Ahmedabad, Surat and Mumbai). Early GMP indications often diverge significantly from listing-day reality, especially for SME issues smaller than ₹100 Cr.

We refresh the live GMP for every active IPO including Adisoft Technologies on our GMP tracker page every 30 minutes. Watch for sustained GMP movement on Day 2 and the closing hours of Day 3 — that is usually the most reliable signal of true investor demand. For a complete primer on how to interpret GMP responsibly see our guide on what is IPO GMP and how does it work.

Key Risks Before You Subscribe

SME IPO investing carries five risks that retail investors should weigh carefully:

1. Liquidity risk. Daily trading volumes on NSE SME can be 1/100th of comparable mainboard names. Exiting a position larger than 1-2 lots can take days, and bid-ask spreads are wider.
2. Concentration risk. Many SME companies derive a large fraction of revenue from a handful of customers. A single client loss can materially impact financials.
3. Promoter holding risk. Post-issue promoter shareholding in SME companies is often 60-70% with limited public float, which can make the share price susceptible to large movements on small volume.
4. Listing day volatility. SME listings frequently swing 30-50% on Day 1 in either direction. Retail investors who allocated their entire risk budget to a single SME IPO can experience outsized drawdowns.
5. Audit and disclosure risk. SME audit standards are less stringent than mainboard requirements. Always read the Risk Factors section of the RHP carefully.

Apply or Skip — Decision Framework

Whether to apply for Adisoft Technologies depends on your overall portfolio context, not just the IPO's standalone characteristics. A reasonable framework:

• Subscribe if: You can comfortably block ₹1,37,600 for one week, you are diversifying across multiple SME issues over the year, and your overall SME allocation stays under 10% of your equity portfolio.
• Skip if: This is your first SME IPO and you are only applying because of GMP buzz, or if a single ₹1,37,600 lot would represent more than 5% of your liquid net worth.
• Wait and watch: Subscribe to our IPO alerts so you get notified when GMP, anchor allocations, and Day 1 subscription numbers are out — then decide on the morning of Day 3 with full information.

For broader IPO context, our open IPOs page shows every issue currently accepting bids alongside live GMP and subscription multiples.

Frequently Asked Questions

When does the Adisoft Technologies IPO open and close? The IPO opens on 23 April 2026 (Thursday) and closes on 27 April 2026 (Monday) at 5:00 PM IST.

What is the minimum amount required to apply? The minimum investment is ₹1,37,600 — one lot of 800 shares at the upper price band of ₹172.

Where will Adisoft Technologies list? On the NSE SME (NSE Emerge) platform, with listing scheduled for 30 April 2026.

Who is the registrar? Kfin Technologies Ltd. handles the basis of allotment and refund processing.

How can I check my allotment status? Allotment will be finalised on 28 April 2026. You can check via the Kfin Technologies IPO portal or our smart allotment checker which auto-detects the registrar.

Last reviewed: April 2026 by IPOMarket Editorial Team. We update IPO review articles with subscription, allotment and listing data as the IPO progresses through its timeline. Bookmark this page or subscribe to our IPO alerts to get notified.