Avalon Technologies Limited

03 Apr 2023 - 06 Apr 2023 Individual Category IPO NSE

Min Investment

₹28220

Price Band

₹415-₹436

Issue Size

198.39 lakhs
Equity Shares

Lot Size

34 (per lot)

IPO Dates
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03 Apr 2023

Open Date

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06 Apr 2023

Close Date

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12 Apr 2023

Allotment Date

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18 Apr 2023

Listing Date

Incorporated in 1999, Avalon Technologies Limited is a leading fully integrated Electronic Manufacturing Services ("EMS") company. They have end-to-end capabilities in delivering box-build solutions in India, focusing on high-value precision engineered products. The company is one of the leaders in the segment in India in terms of revenue in Fiscal 2022. Through a unique global delivery model, Avalon offers a full stack product and solution suite, right from printed circuit board (PCB) design and assembly to the manufacture of complete electronic systems (Box Build), to certain global original equipment manufacturers (OEMs), including OEMs located in countries like China, Netherlands, United States, and Japan. The offerings of Avalon Technologies Limited include PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems. With its notable specialization in manufacturing and providing design suppo

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About Avalon Technologies Limited

Avalon Technologies, an electronic manufacturing services company, will open its initial public offering (IPO) for public subscription on Monday, April 3, 2023. The public issue will last three days, closing on Thursday, April 6, 2023, with anchor investor bidding beginning on March 31, 2023. The IPO consists of a Rs 320 crore fresh equity share issuance and a Rs 545 crore Offer For Sale (OFS) of shares by promoters and current shareholders, totalling Rs 865 crore. This is lower than the initially planned Rs 1,025 crore through the share sale. The fresh issue proceeds will be allocated towards debt repayment, working capital needs, and general corporate purposes. Market analysts report that Avalon Technologies’ shares currently hold a Rs 22 premium (GMP) in the grey market. The company’s shares are anticipated to be listed on the major stock exchanges BSE and NSE on Tuesday, April 18, 2023. 

Founded

1999

Managing Director

Kunhamed Bicha

Parent Organization

IPO Objectives

The company intends to use the net proceeds for several purposes, such as prepaying or repaying all or part of specific outstanding borrowings obtained by the company and one of its significant subsidiaries, Avalon Technology and Services Private Limited (ATSPL). Additionally, the funds will be allocated for financing the company’s working capital requirements, ensuring adequate resources for ongoing operations and expansion plans. Lastly, the proceeds will also be directed towards general corporate purposes.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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