Avalon Technologies IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Avalon Technologies IPO will open on April 3 and close on April 6, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 865 crore through this public offering, consisting of 19,839,450 shares with a face value of ₹ 2 each. Which will be issued at a price of ₹ 415 to ₹ 436 per share.
About Avalon Technologies Limited (“the Company”)
In terms of revenue in Fiscal 2022, it is one of the top fully integrated Electronic Manufacturing Services (“EMS”) companies in India with end-to-end capabilities in offering box build solutions, with an emphasis on high-value precision built products (source: F&S Report). They offer a full stack product and solution suite, from printed circuit board (“PCB”) design and assembly to the production of complete electronic systems (“Box Build”), to a select group of international original equipment manufacturers (“OEMs”), including OEMs based in the US, China, the Netherlands, and Japan (source: F&S Report).
The company offers end-to-end box builds for electronic systems, PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, and injection-moulded plastics.
The business specialises in producing and offering design assistance for essential integrated assemblies, sub-assemblies, components, and enclosures for a variety of industry verticals. The end-use industries they cater to include a mix of established and long-life cycle industries, such as industrial, mobility, and medical devices, and high-growth “sunrise” industries, such as solar, electric vehicles, & hydrogen in the clean energy sector, and digital infrastructure in the communications sector.
Objects of the Issue
The company proposes to utilise the net proceeds of the Fresh Issue towards funding the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed of by the company and one of the material subsidiaries, i.e., Avalon Technology and Services Private Limited (ATSPL);
- Funding the working capital requirements of the company;
- general corporate purposes.
Financial Highlights (Restated Consolidated)
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|
| Total Assets | 588 | 512 | 450 |
| Total Borrowings | 294 | 295 | 248 |
| Total Revenue | 852 | 696 | 653 |
| Profit After Tax | 68 | 23 | 12 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 415 to ₹ 436 per share |
| Face Value | ₹ 2 per share |
| Market Lot | 34 shares |
| Issue Size | 19,839,450 shares of ₹ 2 each (Aggregating up to ₹ 865 Crore) |
| Fresh Issue | 7,339,450 shares of ₹ 2 each (Aggregating up to ₹ 320 Crore) |
| Offer for Sale | 12,500,000 shares of ₹ 2 each (Aggregating up to ₹ 545 Crore) |
| QIB Shares Offerred | Not less than 75% of the offer |
| NII (HNI) Shares Offered | Not more than 15% of the offer |
| Retail Shares Offered | Not less than 10% of the offer |
| Listing At | BSE, NSE |
| Company Promoters | Kunhamed Bicha and Bhaskar Srinivasan |
GMP: Avalon Technologies IPO
Avalon Technologies’ IPO GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Avalon Technologies IPO
The issue opens for subscription on April 3, 2023, and closes for subscription on April 6, 2023 (both days inclusive). The basis of allotment will be finalised on April 12th, 2023, and the refunds will be initiated on April 13, 2023. In addition, the demat credits are expected to happen on April 17, 2023, and the stock will list on April 18, 2023, on the BSE and NSE.
| Opening Date | April 3, 2023 |
| Closing Date | April 6, 2023 |
| Basis of Allotment | April 12, 2023 |
| Initiation of Refunds | April 13, 2023 |
| Credit of shares to Demat A/c | April 17, 2023 |
| Listing Date | April 18, 2023 |
Lot Size
The lot size of the Avalon Technologies IPO is 34 shares. A retail-individual investor can apply for up to 13 lots, i.e. 442 shares of ₹ 192,712.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 34 | ₹ 14,824 |
| Retail (Maximum) | 13 | 442 | ₹ 192,712 |
| S-HNI (Minimum) | 14 | 476 | ₹ 207,536 |
| S-HNI (Maximum) | 67 | 2,278 | ₹ 993,208 |
| B-HNI (Minimum) | 68 | 2,312 | ₹ 1,008,032 |
Promoters Holdings
| Pre-issue Shares Holdings | 70.75% |
| Post-issue Shares Holdings | 51.24% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | 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/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: avalontec.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | 1. JM Financial Limited 2. DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) 3. IIFL Securities Ltd 4. Nomura Financial Advisory And Securities (India) Pvt Ltd |
FAQ’s
When will Avalon Technologies Ltd. IPO allotment available?
The finalisation of the basis of allotment for the Avalon Technologies Ltd. IPO will be done on April 12, 2023, and the allotted shares will be credited to your demat account by April 17, 2023. Check the Avalon Technologies Ltd. IPO allotment status.
When will Avalon Technologies Ltd. IPO list on exchanges?
The Avalon Technologies Ltd. IPO shares listing date is April 18, 2023.
How many shares in Avalon Technologies Ltd. IPO Offer are reserved for HNIs and retail investors?
The investors’ portion for QIB is 75% of the offer, NII (HNI) is 15% of the offer, and retail is 10% of the offer.
