Wednesday, October 2, 2024
Home News Electronic firm Avalon Technologies to launch its Rs 865-cr IPO on April...

Electronic firm Avalon Technologies to launch its Rs 865-cr IPO on April 3

 

The Rs 865-crore initial share sale of electronics manufacturing services firm Avalon Technologies will open for public subscription on April 3.

 

According to the Red Herring Prospectus (RHP), the three-day initial public offering (IPO) will close on April 6 and bidding for anchor investors will open on March 31.

The company has reduced the size of its IPO to Rs 865 crore from the earlier plan of Rs 1,025 crore.

 

Now, it plans to raise Rs 320 crore from fresh issue of equity shares and Rs 545 crore through offer for sale (OFS) of shares by promoters and existing shareholders.

 

The proceeds from the fresh issue will be used for debt repayment, funding of working capital requirements and for general corporate purposes.

 

In January, the company had received capital markets regulator SEBI’s go-ahead to launch an IPO.

 

Established in 1999, Avalon is an end-to-end electronic manufacturing service solutions provider and includes Kyosan India, Xonar Systems Inc., Collins Aerospace, E-Infochips, The US Malabar Company, Meigit (SecurePlane Technologies Inc.) and Systec Corporation. Its main customers. It has 12 manufacturing units in the US and India.

 

By FY22, its revenue from operations is expected to be Rs 840 crore, with an order book of Rs 1,039 crore as of June 30, 2022.

 

JM Financial, DAM Capital Advisors, IIFL Securities and Nomura Financial Advisory & Securities (India) Pvt Ltd are the merchant bankers to the IPO.

(Only the headline and image in this report may have been reworked by Business Standard staff, the rest of the content is automatically generated from the syndicated feed.)

 

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