Last day to subscribe Avalon Technologies IPO; Check live subscription here

6 Apr 2023 , 01:13 PM

The initial public offer (IPO) of Avalon Technologies Limited will conclude on April 6 and by the end of day 2, the issue was subscribed only 9%. Click here to subscribe the IPO.

On day 3 of bidding at 1 PM, the public issue has been subscribed 52% whereas its retail portion has been subscribed 61%. The QIB and HNI section has been subscribed 69% and 10% respectively. 

The IPO comprises a fresh issue of shares up to Rs 324 crore and an offer for sale (OFS) of up to Rs 545 crore by promoters and selling shareholders.

Under the OFS, promoters Kunhamed Bicha and Bhaskar Srinivasan will offload up to Rs 131 crore and Rs 172 crore respectively. Other selling shareholders include T P Imbichammad and Mariyam Bicha, who are part of the promoter group.

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