Avalon Technologies IPO to be launched on April 3: 10 things to know before subscription opens

Avalon Technologies IPO: The initial public offer (IPO) of Avalon Technologies – an electronic manufacturing services firm – is all set to open from the first week of April.

Here are the 10 things to know about Avalon Technologies IPO:

1) The issue size of electronics manufacturing services’ initial share sale is around Rs 865 crore.

2) The three-day IPO will open for public subscription on April 3 and it will close on April 6, 2023.

3) The bidding for anchor investors will open on March 31, as per to the red herring prospectus.

4) The company has cut the size of its IPO to Rs 865 crore from Rs 1,025 crore planned earlier.

5) It plans to mobilise Rs 320 crore from fresh issuance of equity shares and Rs 545 crore through an offer for sale (OFS) of shares by promoters and existing shareholders.

6) Proceeds from the fresh issue would be used towards debt payment, funding working capital requirements and general corporate purposes.

7) JM Financial, DAM Capital Advisors, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited are the merchant bankers for this IPO.

8) Avalon Technologies received capital markets regulator SEBI's go-ahead to float the IPO in January 2023.

9) Avalon is an end-to-end electronic manufacturing service solutions provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation as some of its key clients.

10) The company was founded in 1999 and it has 12 manufacturing units located across the US and India. Its revenue from operations was Rs 840 crore as of fiscal 2022,, with an order book worth Rs 1,039 crore as of June 30, 2022.

With PTI Inputs