Avalon Technologies IPO: The IPO for Avalon Technologies is made up of two components: ₹320 crores from newly issued equity shares and ₹545 crores from promoters and current shareholders offering to sell shares. The company wants to raise ₹865 crores, as opposed to the ₹1,025 crores it had originally expected to through the initial share offering. The proceeds from the new issue would go towards paying off debt, providing operating capital, and other general company reasons.
Avalon is a fully integrated manufacturer of electronic products that provides comprehensive service options. The business operates 12 production facilities in the US and India. Kyosan India, Zonar Systems Inc., Collins Aerospace, and e-Infochips are a few of its principal customers. Other services offered by the business include sheet metal fabrication, machining, magnetics, cable assembly and wire harnesses, and injection moulded plastics.
Avalon Technologies IPO Dates
On Monday, April 3, 2023, public subscription for the initial public offering (IPO) of electronic manufacturing services provider Avalon Technologies will begin. The three-day public issue will close on Thursday, April 6, 2023, and the bidding for anchor investors will open on March 31, 2023.
Avalon Technologies IPO Details
| IPO Date | Apr 3, 2023 to Apr 6, 2023 |
| Face Value | ₹2 per share |
| Price | ₹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 |
Important Dates of Avalon Technologies IPO
The business has previously stated that the three-day initial share sale will end on April 6, 2023, and that the bidding for anchor investors would begin on March 31.
| Event | Tentative Date |
|---|---|
| Opening Date | Apr 3, 2023 |
| Closing Date | Apr 6, 2023 |
| Basis of Allotment | Apr 12, 2023 |
| Initiation of Refunds | Apr 13, 2023 |
| Credit of Shares to Demat | Apr 17, 2023 |
| Listing Date | Apr 18, 2023 |
Avalon Technologies IPO Lot Size
The Avalon Technologies IPO lot size is 34 shares.
| 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 |
Avalon Technologies IPO Promoter Holding
Kunhamed Bicha and Bhaskar Srinivasan are the promoters of the company.
Objects of the Avalon Technologies IPO
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed 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.
About Avalon Technologies IPO
Avalon Technologies Limited, a top-tier, fully integrated Electronic Manufacturing Services (“EMS”) business, was founded in 1999. They are fully capable of providing box-build solutions in India while concentrating on expensive precisely engineered goods. In terms of revenue for the fiscal year 2022, the company is among the top players in the Indian market.
Avalon provides a full-stack product and solution suite through a distinctive global delivery model to a select group of original equipment manufacturers (OEMs) worldwide, including OEMs in nations like China, the Netherlands, the United States, and Japan. This product and solution suite includes everything from printed circuit board (PCB) design and assembly to the production of complete electronic systems (Box Build).
Avalon Technologies Ltd provides end-to-end box building for electronic systems, PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection moulded plastics, and magnetics.
Customers may expect the highest quality services from them thanks to their significant specialization in manufacturing and the provision of design support for crucial integrated assemblies, sub-assemblies, components, and enclosures for numerous industry verticals.