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Avalon Technologies IPO: Bid to open on Monday, April 3, price band fixed at ₹415 to ₹436 per share

AVALON,

Avalon Technologies intends to launch its initial public offering (IPO) of 19,839,450 equity shares with a face value of Rs on Monday, April 3, 2023. 2 for each subject’s maximum value of 865 crores. a new offering of equity shares with a cap of Rs. 320 crore and equity shares offered for sale (OFS) with a maximum value of Rs. An initial public offering of 545 crores is made.

Equity shares have a fixed offer price range of $415 to $436. Bidding can be made in multiples of 34 equity shares after a minimum of 34 equity shares have been offered. Friday, March 31, 2023, is the deadline for Anchor Investor bids. The Offer’s subscription period begins on April 3, 2023, and ends on April 6, 2023, on Thursday.

Offer for Sale includes Bhaskar Srinivasan’s 172 crore equity shares and Kunhamed Bichha’s 131 crore equity shares; shareholder selling promoter”; Concerning the 16 crores of TP Imbichammed, Regarding Mariam Bicha’s ten million dollars; Regarding Anand Kumar’s 75.5 crores of rupees; Regarding Sardeya Seshu Kumar and the additional 75.5 crores of Lukuman Veedu Adhiyanam, up to 65 crores

According to Avalon Technologies, the company intends to finance the prepayment or repayment of all or some of the outstanding borrowings used by the company and one of its material subsidiaries, Avalon Technologies & Services Pvt Ltd, using the net proceeds of the New Issue, which are estimated to be 145 crores; estimates of the company’s need for 90 crores in working capital financing; and the remaining sum for company-wide purposes.

The Red Herring Prospectus (or “RHP”) that was submitted to the Registrar of Companies in Chennai, Tamil Nadu, on March 23, 2023, is the means by which the Equity Shares are being offered. It is proposed that the Equity Shares be listed on well-known stock exchanges like the BSE and NSE. The NSE is the chosen stock exchange for the offer.

The Book Running Lead Managers are JM Financial Limited, DAM Capital Advisors Limited, IIFL Securities Limited, and Nomura Financial Advisory & Securities (India) Private Limited. public sale One of the world’s leading fully integrated Electronic Manufacturing Services (“EMS”) companies is Avalon Technologies.

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