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Avalon Technologies IPO sets issue price at Rs 415-436 per share

28 Mar 2023 , 10:54 AM

Electronics maker Avalon Technologies is coming up with an initial public offer (IPO) is all set to open on April 3 and will conclude on April 6. The company has set the price band at Rs 415-436 per share. This values the company at Rs 2500 crore at the upper end. 

Avalon Technologies will use the funds from net proceeds towards the payment of outstanding borrowings availed by the company and subsidiary, to fund work capital requirements and other general corporate purposes.

The Rs 865-crore public issue will comprises a fresh issue of Rs 320 crore and an offer-for-sale of up to Rs 545 crore. In OFS Kunhamed Bicha will offload up to Rs 131 crore, up to Rs 172 crore will be sell by Bhaskar Srinivasan, up to Rs 10 crore by TP Imbichammad, up to Rs 10 crore by Mariyam Bicha and up to Rs 75.50 crore each by Anand Kumar and Luquman Veedu Ediyanam each, and Rs 65 crore by Sareday Seshu Kumar.

Avalon Technologies IPO important details:

Open date  April 3, 2023
Close date  April 6, 2023
Lot size  34 shares
IPO size (Rs crore)  Rs 865 Crore
IPO price range (Rs)  Rs 415-436 per share
Minimum investment Rs 14,824
Basis of allotment date  April 12, 2023
Refunds date  April 13, 2023
Credit to demat account date  April 17, 2023
Listing date  April 18, 2023

 

Avalon Technologies is a leading fully integrated Electronic Manufacturing Services (“EMS”) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022 with a focus on high value precision engineered products.

Related Tags

  • Avalon Technologies IPO
  • Avalon Technologies IPO issue price
  • Avalon Technologies IPO price band
  • IPO
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