Avalon Tech IPO: Shares to debut on BSE, NSE on this date

Avalon Technologies ​IPO listing date: Avalon Technologies shares are set to debut on Dalal Steet on April 18, Tuesday. The initial public offering (IPO) of a Chennai-based provider of IT services and solutions will be listed on both the leading stock exchanges -- the National Stock Exchange (NSE) and BSE tomorrow at 10 PM. 

Avalon Technologies IPO subscribed 2.34 times in total. The public issue subscribed 0.88 times in the retail category, 3.77 times in  Qualified Institutional Buyers (QIBs) and 0.43 times in the Non-Institutional Investors NII category by April 6.

Avalon Tech IPO opened for subscription on April 3 and ended on April 6. The initial share sale of Avalon Technologies comprised of fresh issuance worth Rs 320 crore and an offer for sale (OFS) worth Rs 545 crore by existing shares. The IPO settled the allotment on April 12. 

Potential investors could bid for Avalon Tech shares in a range of Rs 415-436 apiece under the IPO. Bids were accepted in multiples of 34, translating to Rs 14,110-14,824 per lot.

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Incorporated in 1999, Avalon Technologies is an integrated electronic manufacturing service (EMS) company. The company has end-to-end capabilities in delivering box-build solutions in India and is focused on high-value precision engineered products. 

Avalon offers a full-stack product and solution suite to certain global original equipment manufacturers (OEMs). These include OEMs located in countries such as China, the Netherlands, the US, and Japan.

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