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Avax Apparels And Ornaments IPO is a fixed price issue of Rs 1.92 crores. The issue is entirely a fresh issue of 2.74 lakh shares.
Avax Apparels And Ornaments IPO opens for subscription on September 20, 2024 and closes on September 24, 2024. The allotment for the Avax Apparels And Ornaments IPO is expected to be finalized on Wednesday, September 25, 2024. Avax Apparels And Ornaments IPO will list on BSE SME with tentative listing date fixed as Friday, September 27, 2024.
Avax Apparels And Ornaments IPO price is ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
SKI Capital Services Limited is the book running lead manager of the Avax Apparels And Ornaments IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Avax Apparels And Ornaments IPO is SKI Capital Services.
Refer to Avax Apparels And Ornaments IPO RHP for detailed information.
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 274,000 shares (aggregating up to ₹1.92 Cr) |
| Fresh Issue | 274,000 shares (aggregating up to ₹1.92 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 765,158 |
| Share holding post issue | 1,039,158 |
| Market Maker portion | 14,000 shares SKI Capital Services |
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Avax Apparels And Ornaments IPO opens on September 20, 2024, and closes on September 24, 2024.
| IPO Open Date | Friday, September 20, 2024 |
| IPO Close Date | Tuesday, September 24, 2024 |
| Basis of Allotment | Wednesday, September 25, 2024 |
| Initiation of Refunds | Thursday, September 26, 2024 |
| Credit of Shares to Demat | Thursday, September 26, 2024 |
| Listing Date | Friday, September 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 24, 2024 |
Investors can bid for a minimum of 2000 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 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator | |||
The Promoters of the company are Mr. Harinderpal Singh Sodhi and Mr. Harish Kumar
| Share Holding Pre Issue | 57.00% |
| Share Holding Post Issue | 41.97% |
Incorporated in June 2005, Avax Apparels And Ornaments Limited is involved in two separate lines of business:
The company wholesales knitted fabric and sells silver ornaments online, including rings, ladies' payal, gents kada, plate sets, glass, bangles, bowls, chains, and other jewellery. It supplies all major cities across the country.
The company has several key advantages in wholesale trading. It is geographically located in the hub of cloth manufacturing, which provides a significant advantage. In addition, the company benefits from the growing demand for these products and the strong business relationships maintained by the management, all of which contribute to the company's success in this segment.
Competitive Strengths
Locational advantage
As of September 2024, the company has 7 full term employees.
Avax Apparels And Ornaments Limited's revenue increased by 50% and profit after tax (PAT) rose by 99% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 484.6 | 346.89 | 57.66 | |||||||||||||||||||||||||||
| Revenue | 2,205.98 | 1,470.21 | 28.87 | |||||||||||||||||||||||||||
| Profit After Tax | 138.19 | 69.44 | 1.01 | |||||||||||||||||||||||||||
| Net Worth | 314.68 | 176.49 | 1.65 | |||||||||||||||||||||||||||
| Total Borrowing | 41.13 | 23.07 | 15.28 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
The market capitalization of Avax Apparels And Ornaments IPO is Rs 7.27 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 43.91% |
| ROCE | 37.50% |
| RoNW | 43.91% |
| P/BV | 1.7 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 18.06 | 13.3 |
| P/E (x) | 3.88 | 5.26 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
Avax Apparels And Ornaments Limited
611 6th Floor
r Jaina Tower II Distt. Centre
anakpuri, West Delhi,-110058
Phone: +011-44750642
Email: secretarial@avaxapparels.com
Website: https://avaxapparels.com/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
SME Company Owners
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Check our SME IPO Guide 
Avax Apparels And Ornaments IPO is a SME IPO of 274,000 equity shares of the face value of ₹10 aggregating up to ₹1.92 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000 Shares.
The IPO opens on September 20, 2024, and closes on September 24, 2024.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Avax Apparels And Ornaments IPO using UPI as a payment gateway. Zerodha customers can apply in Avax Apparels And Ornaments IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Avax Apparels And Ornaments IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Avax Apparels And Ornaments IPO opens on September 20, 2024 and closes on September 24, 2024.
Avax Apparels And Ornaments IPO lot size is 2000 Shares, and the minimum amount required is ₹140,000.
You can apply in Avax Apparels And Ornaments 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 Avax Apparels And Ornaments IPO will be done on Wednesday, September 25, 2024, and the allotted shares will be credited to your demat account by Thursday, September 26, 2024. Check the Avax Apparels And Ornaments IPO allotment status.
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