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Avalon Technologies Limited IPO (Avalon Technologies IPO) Detail

April 3, 2023 - April 6, 2023

Avalon Technologies IPO is a book built issue of Rs 865.00 crores. The issue is a combination of fresh issue of 0.73 crore shares aggregating to Rs 320.00 crores and offer for sale of 1.25 crore shares aggregating to Rs 545.00 crores.

Avalon Technologies IPO bidding started from April 3, 2023 and ended on April 6, 2023. The allotment for Avalon Technologies IPO was finalized on Wednesday, April 12, 2023. The shares got listed on BSE, NSE on April 18, 2023.

Avalon Technologies IPO price band is set at ₹415 to ₹436 per share. The minimum lot size for an application is 34 Shares. The minimum amount of investment required by retail investors is ₹14,824. The minimum lot size investment for sNII is 14 lots (476 shares), amounting to ₹207,536, and for bNII, it is 68 lots (2,312 shares), amounting to ₹1,008,032.

Jm Financial Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Iifl Securities Ltd and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Avalon Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Avalon Technologies IPO RHP for detailed information.

Avalon Technologies IPO Details

IPO Date April 3, 2023 to April 6, 2023
Listing Date April 18, 2023
Face Value ₹2 per share
Price Band ₹415 to ₹436 per share
Lot Size 34 Shares
Total Issue Size19,839,450 shares
(aggregating up to ₹865.00 Cr)
Fresh Issue7,339,450 shares
(aggregating up to ₹320.00 Cr)
Offer for Sale12,500,000 shares of ₹2
(aggregating up to ₹545.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Avalon Technologies IPO Reservation

Avalon Technologies IPO offers 19,771,937 shares. 5,915,011 (29.92%) to QIB, 2,975,917 (15.05%) to NII, 1,983,944 (10.03%) to RII 8,927,751 (45.15%) to Anchor investors. 58,351 RIIs will receive minimum 34 shares and 2,083 (sNII) and 4,167 (bNII) will receive minimum 476 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered8,927,751 (45.15%)NA
QIB Shares Offered5,915,011 (29.92%)NA
NII (HNI) Shares Offered2,975,917 (15.05%)
  bNII > ₹10L1,983,945 (10.03%)4,167
  sNII < ₹10L991,972 (5.02%)2,083
Retail Shares Offered1,983,944 (10.03%)58,351
Total Shares Offered19,771,937 (100%)

Avalon Technologies IPO Anchor Investors Details

Avalon Technologies IPO raises Rs 389.25 crore from anchor investors. Avalon Technologies IPO Anchor bid date is March 31, 2023. Avalon Technologies IPO Anchor Investors list

Bid Date March 31, 2023
Shares Offered 8,927,751
Anchor Portion Size (In Cr.) 389.25
Anchor lock-in period end date for 50% shares (30 Days) May 12, 2023
Anchor lock-in period end date for remaining shares (90 Days) July 11, 2023

Avalon Technologies IPO Timeline (Tentative Schedule)

Avalon Technologies IPO opens on April 3, 2023, and closes on April 6, 2023.

IPO Open Date Monday, April 3, 2023
IPO Close Date Thursday, April 6, 2023
Basis of Allotment Wednesday, April 12, 2023
Initiation of Refunds Thursday, April 13, 2023
Credit of Shares to Demat Monday, April 17, 2023
Listing Date Tuesday, April 18, 2023
Cut-off time for UPI mandate confirmation 5 PM on April 6, 2023

Avalon Technologies IPO Lot Size

Investors can bid for a minimum of 34 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 34 ₹14,824
Retail (Max) 13 442 ₹192,712
S-HNI (Min) 14 476 ₹207,536
S-HNI (Max) 67 2,278 ₹993,208
B-HNI (Min) 68 2,312 ₹1,008,032
Lot Size Calculator

Avalon Technologies IPO Promoter Holding

Kunhamed Bicha and Bhaskar Srinivasan are the promoters of the company.

Share Holding Pre Issue 70.75%
Share Holding Post Issue 51.24%

About Avalon Technologies Limited

Incorporated in 1999, Avalon Technologies Limited is a leading fully integrated Electronic Manufacturing Services ("EMS") company. They have end-to-end capabilities in delivering box-build solutions in India, focusing on high-value precision engineered products. The company is one of the leaders in the segment in India in terms of revenue in Fiscal 2022.

Through a unique global delivery model, Avalon offers a full stack product and solution suite, right from printed circuit board (PCB) design and assembly to the manufacture of complete electronic systems (Box Build), to certain global original equipment manufacturers (OEMs), including OEMs located in countries like China, Netherlands, United States, and Japan.

The offerings of Avalon Technologies Limited include 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.

With its notable specialization in manufacturing and providing design support for critical integrated assemblies, sub-assemblies, components, and enclosures for multiple industry verticals, they help customers receive the best of services.

Company Financials

Avalon Technologies Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxTotal Borrowing
31-Mar-20449.65653.1512.33248.48
31-Mar-21512.48695.9023.08295.33
31-Mar-22587.96851.6568.16294.05
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Avalon Technologies IPO is Rs 2846.76 Cr.

KPI Values
ROE85.90%
ROCE27.40%
Debt/Equity3.64
Pre IPO Post IPO
P/E (x) 55.54

Objects of the Issue (Avalon Technologies IPO Objectives)

The Company proposes to utilize the Net Proceeds towards funding the following objects:

  1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and one of the Material Subsidiaries, i.e. Avalon Technology and Services Private Limited (ATSPL);
  2. Funding the working capital requirements of the Company;
  3. General corporate purposes.

Avalon Technologies IPO Review (May apply)

[Dilip Davda]  ATL is engaged in the global supply of critical and specialized components to industries across the board with a major focus on clean energy and new developments in EV and Hydrogen space. A strong order book of Rs. 1190+ cr. as of November 30, 2022, indicates future prospects of the company. Since it enjoys a niche place in the segment it operates, it may catch fancy post listing. Since over 45% of funds will be used to reduce its borrowings, it will bring savings in interest costs that will boost its bottom line going forward. Well-informed investors may park funds for medium to long-term rewards. Read detail review...


Avalon Technologies IPO Subscription Status (Bidding Detail)

The Avalon Technologies IPO is subscribed 2.34 times on April 6, 2023 7:02:00 PM. The public issue subscribed 0.88 times in the retail category, 3.77 times in the QIB category, and 0.43 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB3.77
NII0.43
    bNII (bids above ₹10L)0.44
    sNII (bids below ₹10L)0.41
Retail0.88
Total2.34

Total Application : 38,944 (0.67 times)

Avalon Technologies IPO Prospectus

Avalon Technologies IPO Rating

20
3.5
Rating:Rated 3.5 stars
Vote Here ...

Avalon Technologies IPO Listing Details

Listing Date April 18, 2023
BSE Script Code 543896
NSE Symbol AVALON
ISIN INE0LCL01028
Final Issue Price ₹436 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹436.00
₹431.00
₹387.75
₹435.30
₹397.45
NSE
₹436.00
₹396.00
₹388.95
₹400.00
₹397.95

Check IPO Performance…

Avalon Technologies Limited Contact Details

Avalon Technologies Limited
B – 7, First Main Road,
MEPZ, Tambaram,
Chennai – 600 045
Phone: +9144 42220 400
Email: investorsrelations@avalontec.com
Website: http://www.avalontec.com/

Avalon Technologies IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: avalontec.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Avalon Technologies IPO FAQs

Avalon Technologies IPO is a main-board IPO of 19,839,450 equity shares of the face value of ₹2 aggregating up to ₹865.00 Crores. The issue is priced at ₹415 to ₹436 per share. The minimum order quantity is 34 Shares.

The IPO opens on April 3, 2023, and closes on April 6, 2023.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Avalon Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Avalon Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Avalon Technologies IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Avalon Technologies IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Avalon Technologies IPO opens on April 3, 2023 and closes on April 6, 2023.

Avalon Technologies IPO lot size is 34 Shares, and the minimum amount required is ₹14,824.

You can apply in Avalon Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Avalon Technologies IPO will be done on Wednesday, April 12, 2023, and the allotted shares will be credited to your demat account by Monday, April 17, 2023. Check the Avalon Technologies IPO allotment status.

The Avalon Technologies IPO listing date is on April 18, 2023.
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Avalon Technologies IPO Message Board

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744 Comments

296. Gaurav DD dimer |   Link |  Bookmark |May 26, 2023 9:47:48 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Great Results as expected.
296.7. Gaurav DD dimer |   Link |  Bookmark |May 28, 2023 5:44:37 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Viewed Presentation today

1) Company Order Book is 1231 Cr as on 31st March Vs 1190 Cr as on 30th November.

2) Company already utilised ipo proceeds to repay borrowing of Rs 145Cr (details shared till 15th May, date of payment unknown).

So Result was good Plus future growth /results also looks promising.
296.8. mark bab |   Link |  Bookmark |May 29, 2023 4:14:07 PM (200+ Posts)
Indeed good results..it will move up steadily now.
295. Gaurav DD dimer |   Link |  Bookmark |May 19, 2023 10:17:54 AM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Result date - 26th May 23
295.3. Sanchit Jain |   Link |  Bookmark |May 22, 2023 3:09:34 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Hoping for it to cross the IPO price.
295.4. Sanchit Jain |   Link |  Bookmark |May 23, 2023 1:10:33 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Exited completely..
294. WolfOfDStreet |   Link |  Bookmark |May 16, 2023 5:11:03 PM
Expecting a sharp recovery after the results are declared.
294.1. Param Patel |   Link |  Bookmark |May 16, 2023 6:34:39 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
@WolfOfDStreet They might not declare the results for this Qtr so don't keep high expectations
294.2. WolfOfDStreet |   Link |  Bookmark |May 16, 2023 6:37:09 PM
I wrote to them and this is the reply that I got from them

"HI,
Financial results will be published post BM, will intimate the same through stock exchanges at appropriate time."

So, keeping my fingers crossed.
293. WolfOfDStreet |   Link |  Bookmark |May 15, 2023 2:30:19 AM
Any news about the result?
292. Thiagarajan Ramasamy |   Link |  Bookmark |May 9, 2023 1:36:51 PM
Top Contributor Top Contributor (700+ Posts, 200+ Likes)
Avalon hitting new lows and slowly going the Elin way.
292.1. Anshujii |   Link |  Bookmark |May 9, 2023 2:44:27 PM (500+ Posts)
@Tejas Pandya
@valueseeker
Still holding...
292.2. Tejas Pandya |   Link |  Bookmark |May 18, 2023 11:08:18 AM
IPO Guru IPO Guru (2800+ Posts, 2200+ Likes)
Yes sir will sell today and will buy in intraday..
291. 🎯 Big Bull 🎯 |   Link |  Bookmark |May 6, 2023 11:55:04 PM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Mankind Final Listing Date 9 may 2023 Tuesday
290. 🎯 Big Bull 🎯 |   Link |  Bookmark |May 6, 2023 11:54:53 PM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Mankind Final Listing Date 9 may 2023 Tuesday
289. ValueSeeker |   Link |  Bookmark |May 2, 2023 3:49:14 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Divgi finally gave a major breakout today.
Syrma is also simmering, and looks set for a 10-15% swing.
My sense is, Avalon's turn will come soon.
288. Seth |   Link |  Bookmark |April 29, 2023 11:41:48 PM
@Monster Zero Should we buy it now or wait more?
Business looks good , PCBs are future what's your opinion?
288.2. Seth |   Link |  Bookmark |April 30, 2023 1:11:23 PM
Ok Thanks
288.3. Na |   Link |  Bookmark |May 2, 2023 12:05:02 PM
Any time it can bounce
287. Imhilli |   Link |  Bookmark |April 27, 2023 6:20:44 PM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
Any chance of revival in near term?
286. Abhijeet Kumar |   Link |  Bookmark |April 27, 2023 7:11:55 AM
I had warned many times earlier about paid influncers trying to trap retail investors in this highly overvalued shares. The stock has continued to drift downwards after the listing and eventually should settle below 300 in next months. Please due your own thorugh analysis before applying in ipo as there are many paid influencers who will trap retail investors luring them to buy such overpriced ipos.
286.1. Tejas Pandya |   Link |  Bookmark |April 27, 2023 9:53:09 AM
IPO Guru IPO Guru (2800+ Posts, 2200+ Likes)
You said you will not post about this company.. can't control right??
285. Abhijeet Kumar |   Link |  Bookmark |April 21, 2023 10:50:32 AM
Those guys who are justifying this exbortiant priced company issue by giving by naming few small rigged companies trading at exorbitant prices are just trying to trap others. Genuine investors should do some basic study on how fundametal valuations and then arrive at fair value. Any company if trade at exorbitant prices doesnt means all the companies will trade at exorbitant prices. We saw that how using reliance power valuations all power stocks valuations was being jsutified in 2008. Similar was case in 2021 by using example of Nyka and Zomato all new age comapnies were sold at exorbitant prices in IPO. What happens to those investors. Rest i now leave upto ur judgement whether u want to protect ur capital or want to get trapped by some guys paid by company and opertors to trap retailers its ur wish. All the best.
I will not post anything on this company now.
285.1. ValueSeeker |   Link |  Bookmark |April 22, 2023 12:35:32 AM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
High pricing can be justifiable at times.
Depends on the sector, unique offerings or positioning of the company, its growth possibilities, etc.
Most commonly, companies which are able to deliver consistently high return ratios (RoE, RoCE, etc) can reasonably command a higher than industry avg valuation.

And, no. I am not paid by anybody to foment lies or spread misinformation.
284. Sanchit Jain |   Link |  Bookmark |April 20, 2023 5:30:02 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Waiting for the turnaround..
284.4. ValueSeeker |   Link |  Bookmark |April 22, 2023 12:29:51 AM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
8.3L to be precise, ryt?
Same pinch ;-)
284.5. Sanchit Jain |   Link |  Bookmark |April 24, 2023 4:36:06 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Waiting for the results now. Next move based on the same.
283. KPCT |   Link |  Bookmark |April 19, 2023 10:38:57 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Not PE, EPS financial ratios, Not sentiment, Not Sector trend but Utmost important thing to earn from share market for small investors like us is INVESTOR FRIENDLY MANAGEMENT.
U can imagine first site that is tarah kinoffer lekar anevala INVESTOR FRIENDLY nahi hon
sakta.
U never earn from Birla like group,
Hindustan Motor, Indian rayon, Bihar Caustic, Rajshri sugar, Orient paper, Idea, se le ke ABSL Tak dekh lo.
( Ultra tech kisi ke pass hoga nahi )
283.4. KPCT |   Link |  Bookmark |April 19, 2023 11:42:27 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
@param Patel
Muje bhi Naya shikhne ko mila.
Sab companies ko TCS , Wipro se hi compair karo.
283.5. Param Patel |   Link |  Bookmark |April 19, 2023 12:12:16 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
@KPCT Kyu nahi kr sakte bhai aapne hi bola price movment se pata chal jata hai. Infy 15% gira to uska management investor friendly nahi hua na aapke logic se. Chalo aapko TCS & Wipro se dikkat hai to nykaa se compare karte hai uska management kaisa hai ? list double hua lekin abhi issue price ke aadhe se bhi niche trade kr Raha hai. 1-2 saal me pura management badal gaya ? Aap kitne knowledgeable person hai sir aap ne 1 din ke price movement se decide kr diya company ka management investor friendly hai ya nahi. Companies ko share price manipulate krna chahiye tabhi wo investor friendly prove hogi aapke logic se to
282. Tina |   Link |  Bookmark |April 19, 2023 10:14:58 AM
Usk 1500 quantity @28.50...enjoy upwards journy.. tomorrow 20%ckt
281. ATRS |   Link |  Bookmark |April 19, 2023 10:04:16 AM
Allotted 2 lots, still holding them and added 200 shares @ 390 yesterday. I have been associated with EMS industry in its nascent stage (early 1990s) and have worked with a company called Altos India Limited (oldies may remember this company). Altos was a supplier to many global companies like Dell, HP, Seagate etc and was one of the fastest growing EMS company in the world. It went down due to financial problems and there was no support from govt at that point of time. But currently govt is very supportive for this industry and it has huge growth potential.
Avalon being a highly integrated and diversified EMS company will see explosive growth in future and worth holding for long term.
280. arvindarvind |   Link |  Bookmark |April 18, 2023 7:20:21 PM
Top Contributor Top Contributor (900+ Posts, 200+ Likes)
8 lakh share have been bought by Goldman sac.
I think it will change the mood now.
280.7. SSingh |   Link |  Bookmark |April 19, 2023 9:28:14 AM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
Na bhai.. No alert..
280.8. Abhijeet Kumar |   Link |  Bookmark |April 19, 2023 11:31:28 AM
@Lokesh Chiru Wait for 6 month you will come to know of basis as well. For past track record pls see trackrecord of foreign funds goldman nomura etc wehere they bought in ipo and immeditely after listed and where they exited in loss after 6 month to 1 year.

Just for example see these funds investment at high rates in Paytm, Nykaa Indigo Paints, PB Fintech, etc and when the price drop after 6 months they dont buy and rather sell many time.
279. Abhijeet Kumar |   Link |  Bookmark |April 18, 2023 11:32:43 PM
dont know if people have too much surplus money or they just want to gamble on anything. how can anybody apply in such company at more than 50 pe. unable to undestand any reason for such insane behaviour
279.2. Gaurav DD dimer |   Link |  Bookmark |April 19, 2023 8:53:20 AM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
@Abhijeet Kumar 

Share market me kabhi less than 10 PE wale bhi chi chalte and 100 PE wale bhi bhaag jate hai.

Have examples for both, if you need.
Sometimes sentiments are more important than valuation.

Keep Investing, Keep Earning.
279.3. KPCT |   Link |  Bookmark |April 19, 2023 9:34:18 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Agree. Even your post regarding Goldman is true. People get hiptonotized by big and fancy names. Goldman dosnt invest own monay.
278. Noorul |   Link |  Bookmark |April 18, 2023 10:26:49 AM
Didn't applied here after watching USK listing. Promoters become to greedy in mainboard companies.
278.3. Imhilli |   Link |  Bookmark |April 18, 2023 10:55:52 PM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
@Noorul R u holding USK presently?
278.4. G profit |   Link |  Bookmark |April 18, 2023 11:23:08 PM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
If hnis and retail boycott ipos, then lead managers will wake up. Just squeezing retail investors money..
277. Earthking |   Link |  Bookmark |April 18, 2023 6:34:12 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
18-Apr-2023      AVALON      Avalon Technologies Ltd      GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO      BUY      3,50,230      412.91      -
18-Apr-2023      AVALON      Avalon Technologies Ltd      GOLDMAN SACHS INVESTMENTS (MAURITIUS) I LIMITED      BUY      4,45,405      408.13      -
18-Apr-2023      AVALON      Avalon Technologies Ltd      NK SECURITIES RESEARCH PRIVATE LIMITED      BUY      3,38,723      409.39      -
18-Apr-2023      AVALON      Avalon Technologies Ltd      NK SECURITIES RESEARCH PRIVATE LIMITED      SELL      3,38,723      409.71      -

Now getting little confidence ...
277.1. Vnrao |   Link |  Bookmark |April 18, 2023 10:33:13 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
GS participation through open market is certainly a good sign. As Sensex lost about 700 points in the last couple of days owing to Tech flop show, this tech savvy Company also bore the brunt. I am holding 20lot (680 shares) without selling even a single share. While there may not be any positive surprise tomorrow ie2nd day of listing and Market also may open -ve, things will improve from day after tomorrow. Once the FY23 results are announced, this will surely touch 500 mark.