Investors have shown less interest in the initial public offer (IPO) of Avalon Technologies Limited. The company has received only 3% subscription on the day 1.
On day 2, the issue was subscribed 8% by 4.10 pm. Retail investors has subscribed to 40% of the shares reserved while Non Institutional Investors (NIIs) has subscribed only 4% to the reserved portion.
Avalon Technologies is one of the leading fully integrated Electronic Manufacturing Services with a wide range of product portfolio. The company largely generates its revenues from the United States (~63% of revenues), catering to the sunrise industries such as clean tech, power automation, mobility.
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 |
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