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Avalon Technologies IPO: Latest GMP, price band ahead of subscription opening next week

Avalon,

On Monday, April 3, 2023, the public will be able to subscribe to the electronic manufacturing services company Avalon Technologies’ initial public offering (IPO). Anchor investors will be able to participate in the three-day public offering, which will end on April 6, 2023. on March 31, 2023, will open. A price range of 415 to 436 shares has been established.

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.

Market observers claim that Avalon Technologies shares are trading at a premium (GMP). 24 today 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 company intends to raise Rs 1,025 crore through the initial share sale, whereas its growth target is 865 crore. The repayment of debt, funding of working capital requirements, and general corporate purposes will all receive funding from the new issue.

Avalon, which includes Kyosan India, Xonar Systems Inc., Collins Aerospace, E-Infochips, The US Malabar Company, Meigit (SecurePlane Technologies Inc.), and Systec Corporation, is an end-to-end provider of electronic manufacturing service solutions. It was founded in 1999. its primary clients. It has 12 factories in the United States and India. The company’s promoters are Bhaskar Srinivasan and Kunhamed Bicha. The company had received approval to launch an IPO from SEBI, the regulator of the capital markets, in January.

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