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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

52-Week Range
Valuation
Financials (FY2024)
Investment Thesis
Adiance Technologies is a small, relatively obscure unlisted Indian company in the electronics and embedded systems space. While the sector has favorable tailwinds from India's manufacturing push, the company's micro-cap size, limited publicly available information, and illiquid shares make it a high-risk speculative investment suitable only for sophisticated investors with a high risk appetite.
Pros
Cons
Business Segments
Edge AI Cameras
On-device AI processing cameras for smart surveillance — no cloud dependency; real-time analytics at the edge.
Smart City Cameras
Cameras for government smart city projects; 4G, cloud, and 4K variants for urban surveillance infrastructure.
Cloud Wi-Fi Cameras
Consumer and SME cloud-connected cameras for remote monitoring.
Revenue Model
Adiance Technologies likely generates revenue from the design, development, and/or supply of embedded electronic systems and components to OEM or enterprise customers. The exact revenue model (project-based, product sales, or services) is not publicly confirmed given limited disclosures.
Detailed Analysis
Growth Plans
India's PLI schemes for electronics and semiconductor manufacturing could benefit small embedded systems companies
Growth in IoT, automotive electronics, and industrial automation in India
Industry Tailwinds
India's PLI schemes for electronics and semiconductor manufacturing could benefit small embedded systems companies
Growth in IoT, automotive electronics, and industrial automation in India
Comparable Companies
Frequently Asked Questions
About Adiance Technologies
Adiance Technologies is an Indian technology company involved in electronics, embedded systems, or semiconductor-adjacent solutions. The company develops technology products or provides engineering services in India's growing electronics manufacturing sector.
Key Milestones
Founded 2002/2003 in Ahmedabad, Gujarat by Hardik Hemendra Sanghvi
Incorporated December 1, 2003 as Adiance Technologies Private Limited (CIN: U72200GJ2003PTC043259)
Developed ArcisAI product line for edge AI surveillance
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You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Industry Headwinds
Lack of public information and financial transparency
Competition from well-capitalized domestic and global electronics firms
No identified IPO or listing roadmap
Very limited public information available about the company's operations, financials, and management, making due diligence extremely difficult.
Source: Media Reports / Public Records
Small capital base limits ability to invest in R&D, marketing, and talent needed to compete effectively in the electronics sector.
Source: Media Reports / Public Records
Indian electronics market faces intense competition from Chinese imports, global EMS companies, and larger domestic players like Dixon Technologies.
Source: AlphaHub Research
Shares are illiquid with no known public listing plan; exit options for investors are highly restricted.
Source: AlphaHub Research
Very limited public information available about the company's operations, financials, and management, making due diligence extremely difficult.
Small capital base limits ability to invest in R&D, marketing, and talent needed to compete effectively in the electronics sector.
Indian electronics market faces intense competition from Chinese imports, global EMS companies, and larger domestic players like Dixon Technologies.
Shares are illiquid with no known public listing plan; exit options for investors are highly restricted.
DIXON · ~₹40,000 Cr
PE: ~90xx
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PE: ~80xx
AVALON · ~₹3,500 Cr
PE: ~40xx
Revenue declined 90% in FY23 — business under significant stress