Avana Electrosystems was incorporated on July 16, 2010. The company manufactures customized control and relay panels ranging from 11 kV to 220 kV for power system monitoring, control, and protection applications. These solutions are used across power generation, transmission, and distribution sectors, including renewable energy plants and utility substations
| Bidding Dates |
|---|
| 12 Jan 2026 - 14 Jan 2026 |
| Subscription |
|---|
| 122.65x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,24,000 | 2 | 2 | 2000 | 6.0 M | ₹56 - ₹59 | 73.64 % | ₹334.3 M - ₹352.2 M | RHP DOC |
Avana Electrosystems IPO SUBSCRIPTION STATUS
14 Jan '26Avana Electrosystems IPO overall subscription rate was 122.65 times the total available shares
Avana Electrosystems IPO retail subscription rate was 182.5 times in the retail segment
Avana Electrosystems IPO non-institutional investor subscription rate was 295.22 times in the non-institutional investor category
Avana Electrosystems IPO Qualified Institutional Bidder subscription rate was 28.97 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Jan 2026 (Day 3) | 182.5x | 295.22x | 28.97x |
13 Jan 2026 (Day 2) | 37.25x | 42.83x | 1.06x |
12 Jan 2026 (Day 1) | 5x | 3.77x | - |
Avana Electrosystems FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 35.7 | 5.6 | 1.5 | 0.7 | 21.3% |
| FY25 | 61.5 | 8.3 | 6.8 | 6.5 | 20.4% |
| FY24 | 53.0 | 4.0 | 0.9 | -1.2 | 14.0% |
| FY23 | 28.4 | 0.9 | -0.3 | -0.5 | 6.8% |
Avana Electrosystems IPO SUBSCRIPTION STATUS DETAILS
Avana Electrosystems had 6.0 M shares on offer
Avana Electrosystems IPO offer price was in the range ₹56 - ₹59
Avana Electrosystems IPO minimum Investment was ₹224000
Avana Electrosystems IPO issue size was ₹ 334.3 M - ₹ 352.2 M
Avana Electrosystems had a minimum lot size of 2000 Shares per application
Avana Electrosystems NUMBER OF SHARES ON OFFER
Avana Electrosystems IPO IMPORTANT DATES
| Issue Open Date | 12 Jan 2026 |
| Issue close Date | 14 Jan 2026 |
| Allotment Date | 16 Jan 2026 |
| Refund Date | 19 Jan 2026 |
| Demat Account Credit Date | 19 Jan 2026 |
| Listing Date | 20 Jan 2026 |
| Listing on Exchange(s) | NSE |
| Avana Electrosystems Allotment Status | Exchange/ Registrar |
Avana Electrosystems IPO subscription opened on 12 Jan 2026, and closed on 14 Jan 2026
IPO allotment for Avana Electrosystems was finalized on Friday, 16 Jan 2026
IPO listing for Avana Electrosystems was on NSE on Tuesday, 20 Jan 2026
Avana Electrosystems IPO LISTING GAINS
| Issue Price (adjusted) | 59.0 |
| Listing Open Price | 77.5 |
| Listing Close Price | 80.3 |
| Listing Gain% | 31.4% |
| Current Gain% | 153.5% |
Avana Electrosystems 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avana Electrosystems Ltd. | 149.6 | 338.7 | 28.9 | 0.8 | 4 | 19.8 | 13.8 | 84.8 | 34.8 | 11.7 | 38.4 | 5.2 | 38.4 |
| 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 |
Avana Electrosystems INFORMATION ON IPO ISSUE
About Avana Electrosystems
Avana Electrosystems was incorporated on July 16, 2010. The company manufactures customized control and relay panels ranging from 11 kV to 220 kV for power system monitoring, control, and protection applications. These solutions are used across power generation, transmission, and distribution sectors, including renewable energy plants and utility substations
Object of the Issue
- Capital expenditure towards civil construction, internal electric work and internal plumbing to set up an Integrated manufacturing unit
- To meet working capital requirements of the company
- General corporate purposes
- To meet offer expenses
Avana Electrosystems - PROMOTERS
| Name |
|---|
| Anantharamaiah Panish |
| Gururaj Dambal |
| S. Vinod Kumar |
| K. N. Sreenath |
Avana Electrosystems - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Anantharamaiah Panish | Managing Director |
| Gururaj Dambal | Whole-Time Director |
| S Vinod Kumar | Whole-Time Director |
| K N Sreenath | Executive-Director |
| Sheela Arvind | Independent Director |
| Shital Darak Mandhana | Independent Director |
| Nama Sreeramaiah Kishore | Independent Director |
Avana Electrosystems Book Running Lead Manager
Indcap Advisors Private Limited
smeipo@indcap.in
Avana Electrosystems Registrar to the issue
Integrated Registry Management Services Private Limited
smeipo@integratedindia.in
Avana Electrosystems Strengths
Diversified product range
The company provides a comprehensive range of custom-built Control and Relay Panels from 11 kV to 220 kV for efficient power transmission and distribution across sectors such as renewable energy, power generation, and utilities. It also offers a wide range of protection relays that detect faults, analyze electrical parameters, and safeguard electrical equipment
Quality standard
The company’s focus on customization and stringent quality control helps retain existing customers, attract new clients, and strengthen its brand image. It follows multi-stage quality checks, supported by in-house and NABL-accredited testing as per IEC standards, customer-site testing when required, and an ISO 9001:2015 certified manufacturing facility at Peenya, Bengaluru
In-house R&D team
The company has an in-house R&D facility comprising nine engineers, firmware, and software developers, driving innovation and continuous improvement in existing products. It also undertakes third-party validation and IEC-compliant type testing at approved laboratories, while incorporating customer feedback to enhance product performance
Avana Electrosystems Risks
Working capital intensive
The company has significant and increasing working capital requirements, particularly due to expansion and higher reliance on government orders, which involve larger inventories and extended credit periods. Any inability to generate sufficient cash flows or raise additional capital when required could adversely impact its operations, liquidity, and financial performance
Competition
The company operates in highly competitive markets with limited entry barriers and faces competition from established electrical equipment manufacturers adopting aggressive pricing and expansion strategies. Intense competition may require higher promotional spending or new product introductions, which could impact its business, cash flows, and financial performance
Operational & IT systems risks
The company relies heavily on IT and accounting systems for business operations, which may be disrupted by outages, cyber threats, or natural disasters. Any malfunction or disruption could impact productivity and operations, despite no such incidents occurring in the past three years
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.7 crore, of 794,000 shares. It also consists of a fresh issue of Rs 30.5 crore.
The promoters of the company are Anantharamaiah Panish, Gururaj Dambal, S. Vinod Kumar and K. N. Sreenath.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 56.0 - 59.0.
The IPO application opens on Jan 12, 2026 and closes on Jan 14, 2026.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 224,000.0, the maximum value for this IPO is Rs 236,000.0.
This IPO will be allotted on Jan 16, 2026.
The refund will be credited to your account on Jan 19, 2026.
The allotted shares will be credited to your demat on Jan 19, 2026.
Avana Electrosystems Ltd.’s shares listed on the stock exchanges on Jan 20, 2026.