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Avalon Technologies IPO is a book built issue of Rs 865.00 crores. The issue is a combination of fresh issue of 0.73 crore shares aggregating to Rs 320.00 crores and offer for sale of 1.25 crore shares aggregating to Rs 545.00 crores.
Avalon Technologies IPO bidding started from April 3, 2023 and ended on April 6, 2023. The allotment for Avalon Technologies IPO was finalized on Wednesday, April 12, 2023. The shares got listed on BSE, NSE on April 18, 2023.
Avalon Technologies IPO price band is set at ₹415 to ₹436 per share. The minimum lot size for an application is 34 Shares. The minimum amount of investment required by retail investors is ₹14,824. The minimum lot size investment for sNII is 14 lots (476 shares), amounting to ₹207,536, and for bNII, it is 68 lots (2,312 shares), amounting to ₹1,008,032.
Jm Financial Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Iifl Securities Ltd and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Avalon Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Avalon Technologies IPO RHP for detailed information.
| IPO Date | April 3, 2023 to April 6, 2023 |
| Listing Date | April 18, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹415 to ₹436 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 19,839,450 shares (aggregating up to ₹865.00 Cr) |
| Fresh Issue | 7,339,450 shares (aggregating up to ₹320.00 Cr) |
| Offer for Sale | 12,500,000 shares of ₹2 (aggregating up to ₹545.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 57,953,128 |
| Share holding post issue | 65,292,577 |
Avalon Technologies IPO offers 19,771,937 shares. 5,915,011 (29.92%) to QIB, 2,975,917 (15.05%) to NII, 1,983,944 (10.03%) to RII 8,927,751 (45.15%) to Anchor investors. 58,351 RIIs will receive minimum 34 shares and 2,083 (sNII) and 4,167 (bNII) will receive minimum 476 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,927,751 (45.15%) | NA |
| QIB Shares Offered | 5,915,011 (29.92%) | NA |
| NII (HNI) Shares Offered | 2,975,917 (15.05%) | |
| bNII > ₹10L | 1,983,945 (10.03%) | 4,167 |
| sNII < ₹10L | 991,972 (5.02%) | 2,083 |
| Retail Shares Offered | 1,983,944 (10.03%) | 58,351 |
| Total Shares Offered | 19,771,937 (100%) |
Avalon Technologies IPO raises Rs 389.25 crore from anchor investors. Avalon Technologies IPO Anchor bid date is March 31, 2023. Avalon Technologies IPO Anchor Investors list
| Bid Date | March 31, 2023 |
| Shares Offered | 8,927,751 |
| Anchor Portion Size (In Cr.) | 389.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 12, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 11, 2023 |
Avalon Technologies IPO opens on April 3, 2023, and closes on April 6, 2023.
| IPO Open Date | Monday, April 3, 2023 |
| IPO Close Date | Thursday, April 6, 2023 |
| Basis of Allotment | Wednesday, April 12, 2023 |
| Initiation of Refunds | Thursday, April 13, 2023 |
| Credit of Shares to Demat | Monday, April 17, 2023 |
| Listing Date | Tuesday, April 18, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 6, 2023 |
Investors can bid for a minimum of 34 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,824 |
| Retail (Max) | 13 | 442 | ₹192,712 |
| S-HNI (Min) | 14 | 476 | ₹207,536 |
| S-HNI (Max) | 67 | 2,278 | ₹993,208 |
| B-HNI (Min) | 68 | 2,312 | ₹1,008,032 |
| Lot Size Calculator | |||
Kunhamed Bicha and Bhaskar Srinivasan are the promoters of the company.
| Share Holding Pre Issue | 70.75% |
| Share Holding Post Issue | 51.24% |
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 support for critical integrated assemblies, sub-assemblies, components, and enclosures for multiple industry verticals, they help customers receive the best of services.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-20 | 449.65 | 653.15 | 12.33 | 248.48 |
| 31-Mar-21 | 512.48 | 695.90 | 23.08 | 295.33 |
| 31-Mar-22 | 587.96 | 851.65 | 68.16 | 294.05 |
| Amount in ₹ Crore | ||||
The market capitalization of Avalon Technologies IPO is Rs 2846.76 Cr.
| KPI | Values |
|---|---|
| ROE | 85.90% |
| ROCE | 27.40% |
| Debt/Equity | 3.64 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 55.54 |
The Company proposes to utilize the Net Proceeds towards funding the following objects:
[Dilip Davda] ATL is engaged in the global supply of critical and specialized components to industries across the board with a major focus on clean energy and new developments in EV and Hydrogen space. A strong order book of Rs. 1190+ cr. as of November 30, 2022, indicates future prospects of the company. Since it enjoys a niche place in the segment it operates, it may catch fancy post listing. Since over 45% of funds will be used to reduce its borrowings, it will bring savings in interest costs that will boost its bottom line going forward. Well-informed investors may park funds for medium to long-term rewards. Read detail review...
The Avalon Technologies IPO is subscribed 2.34 times on April 6, 2023 7:02:00 PM. The public issue subscribed 0.88 times in the retail category, 3.77 times in the QIB category, and 0.43 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 3.77 |
| NII | 0.43 |
| bNII (bids above ₹10L) | 0.44 |
| sNII (bids below ₹10L) | 0.41 |
| Retail | 0.88 |
| Total | 2.34 |
Total Application : 38,944 (0.67 times)
| Listing Date | April 18, 2023 |
| BSE Script Code | 543896 |
| NSE Symbol | AVALON |
| ISIN | INE0LCL01028 |
| Final Issue Price | ₹436 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹436.00 |
| ₹431.00 |
| ₹387.75 |
| ₹435.30 |
| ₹397.45 |
| NSE |
|---|
| ₹436.00 |
| ₹396.00 |
| ₹388.95 |
| ₹400.00 |
| ₹397.95 |
Avalon Technologies Limited
B – 7, First Main Road,
MEPZ, Tambaram,
Chennai – 600 045
Phone: +9144 42220 400
Email: investorsrelations@avalontec.com
Website: http://www.avalontec.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: avalontec.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Avalon Technologies IPO is a main-board IPO of 19,839,450 equity shares of the face value of ₹2 aggregating up to ₹865.00 Crores. The issue is priced at ₹415 to ₹436 per share. The minimum order quantity is 34 Shares.
The IPO opens on April 3, 2023, and closes on April 6, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Avalon Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Avalon Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Avalon Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Avalon Technologies IPO opens on April 3, 2023 and closes on April 6, 2023.
Avalon Technologies IPO lot size is 34 Shares, and the minimum amount required is ₹14,824.
You can apply in Avalon Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Avalon Technologies IPO will be done on Wednesday, April 12, 2023, and the allotted shares will be credited to your demat account by Monday, April 17, 2023. Check the Avalon Technologies IPO allotment status.
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