Avalon Technologies IPO day 1 live subscription details

3 Apr 2023 , 03:27 PM

The initial public offer of Avalon Technologies Limited has hit the market for subscription on April 3 to raise up to Rs 865 crore. Avalon has fixed a price band of Rs 412-436 per share and investors can bid for 34 shares in one lot and in multiples thereof.

As per BSE website, the issue was subscribed 2% overall by 3.30 PM. The retail investors’ portion was subscribed 11%, while the categories of non-institutional investors (NIIs) received 1% and qualified institutional buyers (QIBs) received no bids so far.

The issue comprises fresh equity shares worth Rs 324 crore and an offer for sale of up to Rs 545 crore by promoters and selling shareholders. A total of 20.8 lakh equity shares will be on offer for bidding.

Avalon Technologies is one of the leading fully integrated electronic manufacturing services (EMS) companies with end-to-end operations in delivering box build solutions in India. The company provides a full stack product and solution suite, from printed circuit board design and assembly to the manufacturing of complete electronic systems.

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