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Avalon Technologies IPO GMP, Price, Dates & Allotment Details 2023

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)

ParticularsFY 2021-22FY 2020-21FY 2019-20
Total Assets588512450
Total Borrowings294295248
Total Revenue852696653
Profit After Tax682312
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 415 to ₹ 436 per share
Face Value₹ 2 per share
Market Lot34 shares
Issue Size19,839,450 shares of ₹ 2 each (Aggregating up to ₹ 865 Crore)
Fresh Issue7,339,450 shares of ₹ 2 each (Aggregating up to ₹ 320 Crore)
Offer for Sale12,500,000 shares of ₹ 2 each (Aggregating up to ₹ 545 Crore)
QIB Shares OfferredNot less than 75% of the offer
NII (HNI) Shares OfferedNot more than 15% of the offer
Retail Shares OfferedNot less than 10% of the offer
Listing AtBSE, NSE
Company PromotersKunhamed 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 DateApril 3, 2023
Closing DateApril 6, 2023
Basis of AllotmentApril 12, 2023
Initiation of RefundsApril 13, 2023
Credit of shares to Demat A/cApril 17, 2023
Listing DateApril 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.

ApplicationsLotsSharesAmount
Retail (Minimum)134₹ 14,824
Retail (Maximum)13442₹ 192,712
S-HNI (Minimum)14476₹ 207,536
S-HNI (Maximum)672,278₹ 993,208
B-HNI (Minimum)682,312₹ 1,008,032

Promoters Holdings 

Pre-issue Shares Holdings70.75%
Post-issue Shares Holdings51.24%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationAvalon Technologies Limited
B – 7, First Main Road, MEPZ, Tambaram,
Chennai – 600 045
Phone: +9144 42220 400
Email: [email protected]
Website: http://www.avalontec.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
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

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.

The Avalon Technologies Ltd. IPO shares listing date is April 18, 2023.

The investors’ portion for QIB is 75% of the offer, NII (HNI) is 15% of the offer, and retail is 10% of the offer.

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