Adisoft Technologies Ltd. (ATL) specializes in industrial digital automation, designing robotic work cells and material handling systems for automotive giants. While they enjoyed a solid growth spurt through FY25, the recent 7M-FY26 performance shows a concerning decline in both revenue and profit. The company’s massive bonus share issuance (1200:1) and extremely low promoter acquisition cost raise eyebrows. With an order book of Rs. 44.33 cr. and plans to expand via a new factory, the IPO looks to raise Rs. 74.10 cr. at a price band of Rs. 163-172. Given the aggressive P/E valuation of 43.77 based on annualized earnings and inconsistent recent margins, the stock appears overpriced. Hem Securities’ mixed track record adds to the caution. All things considered, this is a risky bet; only those with a high risk appetite and a long-term view should consider parking moderate funds here.

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