Avalon Technologies IPO to open on April 3, 2023
The Avalon Technologies IPO, or initial public offering, is set to open for subscription on April 3, 2023. The IPO will remain open for bidding till Thursday, April 6, 2023. With this IPO, the electronic manufacturing service solutions provider aims to raise ₹865 crore.
Let’s understand more about the Avalon Technologies IPO, its latest GMP, the Avalon Technologies IPO schedule, etc.
About Avalon Technologies Limited
Avalon Technologies Limited is a leading electronic manufacturing services company. Incorporated in 1999, Avalon Technologies is engaged in providing end-to-end box-build solutions, focusing on high-value precision-engineered products. The company’s offerings include printed circuit board design and assembly, sheet metal fabrication and machining, cable assembly and wire harnesses, magnetics, injection moulded plastics, and end-to-end box build of electronic systems.
Avalon Technologies IPO
The Avalon Technologies IPO includes a fresh issue of equity shares worth ₹320 crore and an offer for sale, or OFS, of shares worth ₹545 crore by the company’s promoters and existing shareholders. Avalon Technologies will use the proceeds from the fresh issue of shares for funding working capital requirements, debt repayment, and general corporate purposes.
Avalon Technologies IPO- Key Dates
The complete Avalon Technologies IPO schedule is as follows:
|IPO Opening Date||April 3, 2023|
|IPO Closing Date||April 6, 2023|
|Basis of Share Allotment||April 12, 2023|
|Initiation of Refunds||April 13, 2023|
|Credit of Shares to Demat Account||April 17, 2023|
|Avalon Technologies Shares Listing Date||April 18, 2023|
Avalon Technologies IPO Price Band
The price band for this ₹865 crore IPO has been fixed at ₹415-₹436 per share. To apply for the Avalon Technologies IPO, bidders will have to apply for a minimum of 34 shares and in multiples thereof.
Avalon Technologies IPO GMP
As per market observers, the shares of Avalon Technologies are trading at a GMP, or grey market premium of ₹16 yesterday. Avalon Technologies is expected to list its shares on the leading stock exchanges NSE and BSE on Thursday, April 18, 2023. Bloomberg
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