Avalon Technologies was incorporated on November 3, 1999. The company is in the business of PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
| Bidding Dates |
|---|
| 03 Apr 2023 - 06 Apr 2023 |
| Subscription |
|---|
| 2.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,824 | 1 | 13 | 34 | 19.8 M | ₹415 - ₹436 | 69.61 % | ₹8233.4 M - ₹8650.0 M | RHP DOC |
Avalon Technologies IPO SUBSCRIPTION STATUS
06 Apr '23Avalon Technologies IPO overall subscription rate was 2.21 times the total available shares
Avalon Technologies IPO retail subscription rate was 0.84 times in the retail segment
Avalon Technologies IPO non-institutional investor subscription rate was 0.41 times in the non-institutional investor category
Avalon Technologies IPO Qualified Institutional Bidder subscription rate was 3.57 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
06 Apr 2023 (Day 3) | 0.84x | 0.41x | 3.57x |
05 Apr 2023 (Day 2) | 0.45x | 0.05x | 0x |
03 Apr 2023 (Day 1) | 0.16x | 0.01x | 0x |
Avalon Technologies FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 8MFY23 | 341.9 | 5,847.9 | -15.4 | -229.0 | 11.6% |
| 8MFY22 | 423.0 | 5,414.0 | 232.0 | 180.8 | 10.8% |
| FY22 | 681.6 | 8,407.2 | 138.6 | -16.1 | 11.6% |
| FY21 | 230.8 | 6,904.7 | 55.2 | -129.9 | 9.6% |
| FY20 | 123.3 | 6,418.7 | 657.3 | 493.1 | 10.1% |
Avalon Technologies IPO SUBSCRIPTION STATUS DETAILS
Avalon Technologies had 19.8 M shares on offer
Avalon Technologies IPO offer price was in the range ₹415 - ₹436
Avalon Technologies IPO minimum Investment was ₹14824
Avalon Technologies IPO issue size was ₹ 8233.4 M - ₹ 8650.0 M
Avalon Technologies had a minimum lot size of 34 Shares per application
Avalon Technologies NUMBER OF SHARES ON OFFER
Avalon Technologies IPO IMPORTANT DATES
| Issue Open Date | 03 Apr 2023 |
| Issue close Date | 06 Apr 2023 |
| Allotment Date | 12 Apr 2023 |
| Refund Date | 13 Apr 2023 |
| Demat Account Credit Date | 17 Apr 2023 |
| Listing Date | 18 Apr 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Avalon Technologies Allotment Status | Exchange |
Avalon Technologies IPO subscription opened on 03 Apr 2023, and closed on 06 Apr 2023
IPO allotment for Avalon Technologies was finalized on Wednesday, 12 Apr 2023
IPO listing for Avalon Technologies was on NSE and BSE on Tuesday, 18 Apr 2023
Avalon Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 436.0 |
| Listing Open Price | 436.0 |
| Listing Close Price | 398.0 |
| Listing Gain% | 0.0% |
| Current Gain% | 350.8% |
Avalon Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avalon Technologies Ltd. | 1965.3 | 12832 | 98.3 | 1.5 | 7.4 | 15.6 | 8.9 | 1632.1 | 46.3 | 112.9 | 78 | 20 | 67.1 |
| ABB India Ltd. | 7600 | 161050.4 | 53.9 | 11.8 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Hitachi Energy India Ltd. | 32600 | 145306 | 126.3 | 1 | 15.9 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Bharat Heavy Electricals Ltd. | 405.2 | 141093.2 | 58 | 0.1 | 3.9 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| Siemens Ltd. | 3940.1 | 140315 | 90.2 | -2.2 | 7.8 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 43.7 | -40.3 |
| CG Power and Industrial Solutions Ltd. | 879 | 138482.1 | 110.8 | 4.5 | 10.8 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
Avalon Technologies IPO Reports
Avalon Technologies INFORMATION ON IPO ISSUE
About Avalon Technologies
Avalon Technologies was incorporated on November 3, 1999. The company is in the business of PCB design and assembly, cable assembly and wire harnesses, sheet metal fabrication and machining, magnetics, injection molded plastics, and end-to-end box build of electronic systems.
Object of the Issue
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and one of the material subsidiaries, Avalon Technology and Services Private Ltd
- Funding working capital requirements of the company
- General corporate purpose
Avalon Technologies - PROMOTERS
| Name |
|---|
| Kunhamed Bicha |
| Bhaskar Srinivasan |
Avalon Technologies Book Running Lead Managers
JM Financial Limited
atl.ipo@jmfl.com
DAM Capital Advisors Limited
avalon.ipo@damcapital.in
IIFL Securities Limited
avalon.ipo@iiflcap.com
Avalon Technologies Book Running Lead Manager
Nomura Financial Advisory and Securities (India) Private Limited
avalontechnologiesipo@nomura.com
Avalon Technologies Registrar to the Offer
Link Intime India Private Limited
avalontec.ipo@linkintime.co.in
Avalon Technologies Strengths
One-stop shop
The company gives end-to-end integrated solutions, providing a one-stop shop for electronics and electro-mechanical design and manufacturing services
High entry barriers
High entry barrier due to the company's collective cross-industry experience, customer engagement capabilities and leading position in the segment
Well-diversified business
The business is well-diversified in terms of end-use industries, customers, geographies and offerings. It has, over the years, diversified and expanded its customer bases, and developed its operations to cater to various end-use industries
Global delivery footprint
The company has a global delivery footprint with high quality standards and advanced manufacturing and assembly capabilities
Avalon Technologies Risks
Dependent on certain customers
The company is dependent on certain customers for a portion of its revenues. Loss of relationship with any of these customers or a decline in their demand may have a material adverse effect on the profitability and results of operations
Significant competitive pressures
The company faces significant competitive pressures in the business, and its inability to compete effectively would be detrimental to the business
Negative cash flows
The company has had negative cash flows from operating activities in the past and may continue to do so in the future
IPO FAQs
This IPO consists of an offer for sale of up to Rs 545.0 crore, of 12,500,000 shares. It also consists of a fresh issue of Rs 320.0 crore.
The promoters of the company are Kunhamed Bicha and Bhaskar Srinivasan.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 415.0 - 436.0.
The IPO application opens on Apr 03, 2023 and closes on Apr 06, 2023.
The minimum lot size for the IPO is 34. The maximum lot size for the IPO is 442.
For all category investors, the minimum application amount for this IPO is Rs. 14,824.0, the maximum value for this IPO is Rs 192,712.0.
This IPO will be allotted on Apr 12, 2023.
The refund will be credited to your account on Apr 13, 2023.
The allotted shares will be credited to your demat on Apr 17, 2023.
Avalon Technologies Ltd.’s shares listed on the stock exchanges on Apr 18, 2023.