Sunday, June 9, 2024
Home News Avalon Technologies IPO: GMP rises ahead of subscription opening. Check key details

Avalon Technologies IPO: GMP rises ahead of subscription opening. Check key details

Avalon,

The three-day first sale of stock (Initial public offering) of electronic assembling administrations firm Avalon Advancements will open for public membership one week from now on Monday, April 3, 2023, and close on April 6, 2023. 415-436 cents per share for this initial 865 billion share sale. Offering for anchor financial backers will open on Walk 31.

Market observers claim that Avalon Technologies shares are trading at a premium (GMP). over 30 today, 24 in the previous session on the gray market. On Tuesday, April 18, 2023, the company’s shares are expected to be listed on the major stock exchanges BSE and NSE.

The initial public offering (IPO) of Avalon Technologies involved a fresh issue of equity shares for 320 crore and an offer for sale (OFS) of shares by the promoters and existing shareholders for 545 crore.

The company intends to raise Rs 1,025 crore through the initial share sale, whereas its growth target is 865 crore. The new issue’s proceeds will be used for debt repayment, working capital needs, and other general corporate goals.

Kyosan India, Zonar Systems Inc., Collins Aerospace, eInfochips, The US Malabar Company, Meigit (SecurePlane Technologies Inc.), and Systec Corporation are among the clients of Avalon Technologies, an end-to-end provider of electronic manufacturing service solutions. The company’s promoters are Bhaskar Srinivasan and Kunhamed Bicha.

The company offers a wide range of services, including cable assembly and wire harness, sheet metal fabrication, machining, magnetics, and injection molded plastics, at 12 manufacturing facilities in the United States and India.

“Avalon Technologies reports operating revenue of 840 crore for the fiscal year 2022, with an order book value of Rs.” 1,039 crore by the end of June 2022. Despite the positive outlook for the Avalon Technologies IPO as a whole, investors should exercise caution given the state of the market. The electronics manufacturing sector is renowned for its volatility, and rising costs of raw materials can have a negative impact on business. Before investing in an IPO, investors should carefully examine the company’s performance, financial situation, and growth prospects.

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments